ro fr
universul juridic magazin

Information and risk – asymmetric components of the loan agreement

The topic regarding the credit activity is very closely related to the information and risks assumed by the parties involved in the credit operation. At the time of the credit application, the debtor\'s main problem is to be informed on the product and the terms of the loan because these will affect its flow of expenses over a long period of time. If consumers are not well informed about the contractual terms, then it is natural that consumer protection to focus on providing what is missing, namely on establishing rules to ensure an adequate and complete information, rather than regulating the contractual clauses, so that consumers to be able to decide what is convenient for themselves. Direct intervention in contracts is not a viable solution. The risk issue must, first and foremost, be accepted by the debtor. Banks do it in the light of the regulatory framework that compels them to take risks into account and, consequently, to have a prudent conduct. The crisis has revealed some deficiencies of the prudential framework not only in Romania, but globally. Regulatory efforts made in the last years are clear and will continue. The debtor\'s behaviour and its effective understanding, in the sense of assuming the contractual terms, cannot be regulated.