In Romania there are 2 Associations that defend the rights of financial users. Both are specialised in FX Loans.
Representatives: Gheorghe Piperea
Consumers Association: Parakletos. Facebook.
Contact: office@asociatia-parakletos.ro
Representative: Dorin Tănase
Consumers Association: Credere. Facebook.
Contact: contact@credere.ro
FX LOANS IN ROMANIA – FACTS
Information given by Parakletos and Credere.
- 4831/121/2014 – Galati Court
- 1730/114/2014- Buzau Court
In these causes the justice decided that the loan should be denominated (reimbursed at the course of CHF from the according date – approximately 2 lei/CHF; Now the course is 4,2 lei/CHF thus the costs increased more that 100%) There are any others causes which are in progress. Unfortunately there are some causes won by the banks so for the moment there is no unitary practice in Romania related to these causes. Unfortunately in Romania the government decided to do nothing regarding this problem and asked banks to negotiate individually with affected people. We hope that for the future the government will be inspired by the actions taken by other country (like Hungary for example) in order to protect their population by these toxic loans that doubled the financial effort for families in just 5 or 6 years. Credere. Unfortunately, even after Andriciuc case C-186/16 from the European Court of Justice, the judiciary practice in Romania hasn’t improved at all, more than 90% of the trials regarding the currency clause being won by the banks due to a old principle from the Civil Code of Romania from 1864. Nonetheless, hundreds of trials were won by the consumers and the courts decided that the credit agreement should be repayed by the consumer at the exchage rate applied at the moment the loan was granted (almost 2 LEI/CHF, half than the actual exchange rate which is 4.2 LEI/CHF). The consumers from Romania are awaiting for the decision in case law C-81/19, therefore the courts are currently suspending all the trials until the European Court of Justice will announce its decision.
MORE ABOUT PARAKLETOS CONSUMERS ASSOCIATION

PARAKLETOS is a Romanian nonprofit consumer association that was founded in 2014 and now it has around 4200 members.
The aim of the organization is to protect and promote the rights and interests of the consumers inside and outside the country. The association fights against economical abuses which manifests especially by the abusive clauses inserted in the contracts between consumers and economical entities.
On short term Parakletos intent to eliminate all abusive clauses from banking contracts intervening in the court clauses opened between ANPC (National Authority for Consumers Protection) and eleven Romanian banks.
On medium and long term, the Association will start a network of at least 10 branches in different districts in order to formulate actions in justice according to articles 12 and 13 from Law 193/2000 which permits to consumers associations to begin court cases in order to eliminate abusive clauses from all contracts of all consumers.
Other purpose of the association is to educate from financial point of view the population in order to protect citizen interests and rights.
The association was an initiative of Gheorghe Piperea, lawyer and professor in law which is its president. The members of the board of the association are: Ana-Maria Masoud, Beatrice Aldea, Ilie Balasoiu and Bogdan Constantin Istrate.
MORE ABOUT CREDERE ASSOCIATION

Credere was established in 2018 at the initiative of the leaders from the Group of Clients with Swiss Francs Loans, a group formed on facebook in 2015 with over 23,000 borrowers who continue to have financial problems after the conclusion of the credit agreements between 2006-2009. The personal experience with the banking industry, as well as the experience gained in more than 8 years of legal and social actions, have determined them to adopt a legal form in order to ensure the necessary guidance for the consumers and to improve the legislation by proposing solutions that should protect the consumer rights. The founding members of Credere were in the Romanian Parliament when the first european directive regarding the consumer loans was transposed into national law in 2010 (2008/48/EC), they have supported the adoption of the datio in solutum law in 2016 and drafted amendments for the implementation of european directive 2014/17/EU. Besides guidance and legislative involvement, we aim to implement financial education projects and to organize different types of conferences that provide consumers with all the informations they need to act and fight for their rights. The founding members of Credere have master degrees in law and economics.