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Subsection 5: Performance of the credit agreement

Article L341-45 of the French Consumer Code

A lender who has not complied with the obligation to inform the borrower in the event of a change in the borrowing rate referred to in article L. 313-46 may be deprived of the right to interest, in full or in the proportion set by the judge.

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Article L341-46 of the French Consumer Code

If the lender demands from the borrower or lessee or withholds from his account sums in excess of those he is authorised to demand or withhold pursuant to the provisions of articles L. 313-49, L. 313-52, L. 313-60 or L. 313-61 is punishable by a fine of 300,000 euros. Physical persons are also liable, as additional penalties, to prohibition, in accordance with the terms set out in the Article 131-27…

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