The Committee on Entrepreneurship, Regulatory and Antimonopoly Policy recommends that the Parliament should adopt as a basis the draft law on amendments to article 11 of the Law “On Consumers’ Rights Protection” (re providing consumers with information on reasons for loan rejection)

Information Department of the Verkhovna Rada of Ukraine Secretariat
17 May 2013, 14:13

The bill (Reg. No. 2448) suggests supplementing article 11 of the Law “On Consumers’ Rights Protection” with new part 31, under which, loan provider is obliged to provide a consumer at his/her demand with information on reasons for loan rejection. 

It was noted that adoption of the bill will, in particular, “promote formation of loan culture both in the consumer and loan provider”, as well as “loan accessibility”.