The Consumer Protection Commission continues to take action against the identified unfair clauses in consumer credit contracts in the non-banking financial institution sector. As a result of inspections and analyses, the Consumer Protection Commission filed 5 new class actions for the declaration of nullity of unfair clauses, bringing their total number to 20.
In the last quarter of 2024, the Consumer Protection Commission conducted a large-scale analysis of 357 general terms and conditions and standard contracts of non-banking financial institutions. Out of 21,308 checked clauses, 1,147 were identified as unfair. In response, as Chairman of the CPC, I sent letters to the relevant companies, demanding the removal of these clauses within 14 days.
About 85% of non-banking companies complied with the requirements of the CPC and voluntarily corrected the unfair clauses in their contracts. In cases where the companies refused to take corrective measures, the Commission filed collective actions, with which it aims to protect the interests of the affected consumers.
In an open session with the summons of the parties (CPC and the relevant creditor), the court hears their opinions on the circumstances and determines an appropriate way to publicize the filing of the claim - how many announcements, through which media and for how long they should be made. The court shall also determine an appropriate period after the disclosure, within which the borrowers may declare that they will participate in the process or will carry out their defense independently.
The court's decision shall be effective for the creditor, the CCP, as well as with respect to those borrowers who claim to have been harmed by the established violation and have not declared that they wish to carry out their defense independently in a separate process.
The CCP, in compliance with the court rulings, will publish information about the filed collective actions on its official website, ensuring full transparency of the process.