Title I: Banking services providers

The provisions of articles R. 519-21, R. 519-22 and R. 519-23 apply when the customer or potential customer is a natural person.

When entering into a relationship, the intermediary in banking transactions and payment services shall provide the customer, including the potential customer, with the following information: 1° Their name or corporate name, their business address or that of their registered office, the category of intermediary to which they belong, their intermediary registration number and the means of verifying this registration. The intermediaries referred to in 4° of I of article R….

Where the agreement relates to a credit transaction, the intermediary in banking and payment services shall enquire of the customer, including the potential customer, about his knowledge and experience of banking transactions as well as his financial situation and needs, so as to be able to offer him services, contracts or transactions suited to his situation. The intermediary must also obtain from the customer, including the potential customer, information relating…

The intermediary in banking and payment services shall present to the customer, including the potential customer, the essential characteristics of the service, transaction or contract proposed. Where the agreement relates to a credit transaction, the intermediary must also draw the customer’s attention, including the potential customer’s attention, to the consequences that taking out the agreement could have on the customer’s financial situation and, where applicable, on the assets provided as…

Where the intermediary provides an advisory service as referred to in Article L. 519-1-1, he shall gather the information he needs about his customer’s personal and financial situation, preferences and objectives in order to be able to recommend appropriate contracts. The recommendation shall be based on up-to-date information and on reasonable assumptions as to the risks incurred by the customer during the term of the proposed contract.

Any information provided by the bank and payment services intermediary pursuant to this section shall be communicated clearly and accurately. The information shall be provided on a durable medium available and easily accessible to the customer or potential customer. Where the intermediary provides an advisory service as referred to in Article L. 519-1-1, he shall communicate to the customer the number of credit agreements examined and the names of the…