Greece Caps Loan Repayments, Boosts Consumer Protection

Greece introduces new consumer loan regulations, capping total repayments at 30-50% above the original loan amount, aiming to eliminate predatory lending practices. This primarily affects unsecured personal loans and credit card debt, which have had high interest rates. A 14-day cooling-off period is also added for borrowers to reconsider. As consumer lending recovers post-debt crisis, demand has increased, but rates remain high. The government is also targeting hidden fees and weak competition in the banking sector, pushing for fairer practices and higher deposit rates for savers. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/91e1e41cc7a68e21