THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS
The banking sector has a special significance in each country's economy, being a constant concern for the authorities, both at national and Community level. To reduce the substantial differences between national laws on consumer credit, the European Commission issued Directive 2008/48/EC on c...
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| Format: | Article |
| Language: | English |
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Academica Brâncuşi
2014-10-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
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| Online Access: | http://www.utgjiu.ro/revista/ec/pdf/2014-05/15_Lupu%20DAn.pdf |
| _version_ | 1811252580784799744 |
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| author | LUPU DAN |
| author_facet | LUPU DAN |
| author_sort | LUPU DAN |
| collection | DOAJ |
| description | The banking sector has a special significance in each country's economy, being a constant concern for the
authorities, both at national and Community level. To reduce the substantial differences between national laws on
consumer credit, the European Commission issued Directive 2008/48/EC on credit agreements for consumers,
transposed into Romanian legislation by the now legendary, Emergency Ordinance nr.50/2010. But what followed
after the adoption of this ordinance surpassed imagination: some banks refused to make the adjustments provided by
the law and they were sued in an enormous proportion by their customers, the consequence was very natural: huge
losses and negative advertising. Instead, the banks which have complied with the directive came out very well from
the crisis: greater number of customers, increased market share and, ultimately, an unexpected profit for this time of
crisis. This article treats ,,the war between banks and their own customers" and mainly its winners and losers. |
| first_indexed | 2024-04-12T16:36:53Z |
| format | Article |
| id | doaj.art-abb4500a59a94b30abdf3ce03cde9198 |
| institution | Directory Open Access Journal |
| issn | 1844-7007 1844-7007 |
| language | English |
| last_indexed | 2024-04-12T16:36:53Z |
| publishDate | 2014-10-01 |
| publisher | Academica Brâncuşi |
| record_format | Article |
| series | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| spelling | doaj.art-abb4500a59a94b30abdf3ce03cde91982022-12-22T03:24:57ZengAcademica BrâncuşiAnalele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie1844-70071844-70072014-10-01158187THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKSLUPU DAN0“Alexandru Ioan Cuza” University of Iasi, Faculty of Economics and Business Administration Iasi, Romania The banking sector has a special significance in each country's economy, being a constant concern for the authorities, both at national and Community level. To reduce the substantial differences between national laws on consumer credit, the European Commission issued Directive 2008/48/EC on credit agreements for consumers, transposed into Romanian legislation by the now legendary, Emergency Ordinance nr.50/2010. But what followed after the adoption of this ordinance surpassed imagination: some banks refused to make the adjustments provided by the law and they were sued in an enormous proportion by their customers, the consequence was very natural: huge losses and negative advertising. Instead, the banks which have complied with the directive came out very well from the crisis: greater number of customers, increased market share and, ultimately, an unexpected profit for this time of crisis. This article treats ,,the war between banks and their own customers" and mainly its winners and losers.http://www.utgjiu.ro/revista/ec/pdf/2014-05/15_Lupu%20DAn.pdf bankcustomersabusive clauseslittigationprofitability |
| spellingShingle | LUPU DAN THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie bank customers abusive clauses littigation profitability |
| title | THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS |
| title_full | THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS |
| title_fullStr | THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS |
| title_full_unstemmed | THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS |
| title_short | THE IMPACT OF ABUSIVE CLAUSES LITIGATIONS ON PROFITABILITY OF ROMANIAN BANKS |
| title_sort | impact of abusive clauses litigations on profitability of romanian banks |
| topic | bank customers abusive clauses littigation profitability |
| url | http://www.utgjiu.ro/revista/ec/pdf/2014-05/15_Lupu%20DAn.pdf |
| work_keys_str_mv | AT lupudan theimpactofabusiveclauseslitigationsonprofitabilityofromanianbanks AT lupudan impactofabusiveclauseslitigationsonprofitabilityofromanianbanks |