In Moldova, creditors will be required to offer loan restructuring before the start of forced collection
This is envisaged by the draft law adopted by the Parliament in the second reading, aimed at improving the system of protection of the rights of consumers of financial services. As noted by the Chairman of the Committee on Economy, Budget and Finance Radu Marian, the law strengthens the rights of consumers and increases the responsibility of banks, non-financial organizations and insurance companies. According to him, this is an important step towards a fairer, more transparent and closer to European standards financial sector. The draft law establishes a clear procedure for applying penalties in case of delay, which excludes the unlawful accrual of additional interest. Complaints will be considered more efficiently: the consumer first contacts the service provider, and then the NCFM, only if he does not receive a satisfactory response. In the insurance sector, consumers will receive standardized pre-contractual information documents to better understand what they are signing. Electronic signing of a settlement agreement will be allowed, and for cars older than 3 years, repairs will be carried out only using original spare parts. Unauthorized sales are prohibited, and authorities will be able to challenge unlawful provisions of a contract, even if they have already been excluded by agreement of the parties. The law will be applied gradually to give all parties involved time to adapt. // 11.07.2025 — InfoMarket.
