Legal Update: New Restrictions on Interest Rates and Credit-Related Costs on Consumer Credit Entered into Force on 1 September 2019

The Government Bill (HE 230/2018) on amending acts related to consumer credit agreements proposed several changes to the Finnish consumer credit legislative framework, in particular to the interest rate cap and credit-related costs.

The proposed rules entered into force on 1 September 2019,and they are applicable to consumer credit agreements concluded after the entry into force, i.e. 1 September 2019.

See our previous blog post on the substance of these new restrictions on consumer credit here.

Hannes Snellman Advises on Consumer Credit Related Matters

The financial services regulation team at Hannes Snellman is available to discuss any questions or issues related to the provision of consumer credit.