Moldova's Ministry of Finance, together with the National Commission for Financial Markets (CNPF), organised training sessions for banks, non-bank credit organisations and savings and loan associations to support implementation of Law No. 189/2025 on consumer protection in financial services, which enters into force on 25 October 2025. The first session brought together banks and non-bank lenders to discuss practical application issues, including transparency in the lending process, assessment of consumers’ creditworthiness, and clear communication of costs and contractual obligations. The second session focused on savings and loan associations. The law requires providers to give clients complete, easy-to-understand information about products, including before contract signature, and to explain credit costs, interest rates and the conditions under which these can change; credit contracts must also include additional safeguards for consumer interests. It also introduces clearer rules on debt restructuring, tighter limits on fees and penalties, and expands CNPF’s remit to cover savings and loan associations and debt collection companies to promote uniform supervision across the financial sector. The Ministry of Finance will continue working with partner institutions to support consumer information and consistent application of the new rules.

Original source View in tracker