Separate and apart from the general legal framework for the protection of consumers in Romania set forth in Government Ordinance no. 21/1992 (hereinafter the “GO”), a niche had existed for creditors enabling them to
modify the interest and fees that they charged for certain consumer loans by increasing them as much as they wanted – such as the law regarding mortgages (Law 190/1999) and the law regarding consumption credits (Law 289/2004). As a consequence, consumers often paid more and more to the banks as interest or fees were arbitrarily increased.
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