Greece's Ministry of National Economy and Finance announced the withdrawal of Article 23 from a bill addressing borrower protection and financial sector regulation. Deputy Minister Dimitris Markopoulos outlined the change during debate in Parliament's Economic Affairs Committee, while maintaining support for the remaining provisions to strengthen loan servicer oversight and borrower protections. The remaining proposals include better information for borrowers and stronger transparency requirements. Markopoulos also highlighted a proposed reduction in the upfront payment from 50% to 15% and penalties of EUR 500,000 for loan servicers. Parliamentary discussion is set to continue before the bill proceeds to the plenary.
Greece's Ministry of National Economy and Finance announces withdrawal of Article 23 from borrower protection bill
Greece's Ministry of National Economy and Finance announced that Article 23 would be withdrawn from a borrower protection bill during Deputy Minister Dimitris Markopoulos' remarks to Parliament's Economic Affairs Committee. The remaining proposals include improved borrower information and transparency, a reduction in the upfront payment from 50% to 15%, and EUR 500,000 penalties for loan servicers.