Slovenia High Court CHF Loans

Slovenia: Ultimatum for banks

Posted on 25/11/2019 · Posted in FX Loans in Europe, Slovenia

CHF Affair: Ultimatum for Banks

Združenje Frank Press Realease

Following the initiative enforced by Slovenian Ministry of Finance, the first meeting between Združenje Frank (Slovenian Consumer Protection Association of Borrowers in Swiss Francs) and Bank Association of Slovenia was held on 13th of November. Representatives from the Ministry of Economic Development and Technology responsible for consumer protection also attended the meeting.

At the meeting, the state secretary at the Ministry of Finance Metod Dragonja called for swift adoption of a mutual agreement based on the points already agreed upon in the 2017/2018 negotiations. To address other still open questions the Ministry of Finance will prepare proposals as a basis for further changes and coordination.
The timeframe set for reaching the agreement is 3 months. If no agreement is reached within this period, the government and the ruling parliament coalition will not oppose the legislative solution should it be once more submitted to the National Assembly of the Republic of Slovenia.

At the meeting, the Bank Association of Slovenia expressed the lack of mandate from member banks to enter into agreements. Frank Association reiterated its willingness to reach an agreement and collective solution within the framework of Directive 93/13/EEC on unfair terms in consumer contracts and the Slovenian Consumer Protection Law. This is a solution offered by the recently submitted Law proposal on the Conversion of Loans in Swiss Francs.
The next meeting is expected to be scheduled in two weeks.
The Frank Association will be keeping borrowers in Swiss francs, members of the Združenje Frank and the public informed and up to date with the negotiation progress. At the same time, we urge borrowers to take caution when considering eventual individual bank offers, to compare different solutions to their problem and not to make any pressured decisions under time constraints or agree to any conditions that would diminish their legal protection.

Združenje Frank