Lenders must inform borrowers of the usury thresholds corresponding to the loans they offer. Credit institutions shall make this information available to their customers in the same way as for the general banking conditions referred to in article R. 312-1 of the Monetary and Financial Code.
The threshold mentioned in article L. 314-11 is reached when the proportion of home loans mentioned in article L. 313-1, represents 60% of the total amount of the credit consolidation transaction. The amount of the home loans includes all costs, interest, commissions, taxes, penalties and other charges that the borrower is required to pay to repay these loans. These costs are included in the amount of the property loans only…
Where the purpose of the credit transaction is to repay at least two previous debts, including an outstanding credit, the creditor or credit intermediary shall, after dialogue with the borrower, draw up a document and provide it to the borrower in order to ensure that the borrower is properly informed, pursuant to Articles L. 314-10 to L. 314-13. The lender or intermediary responds to any request from the borrower for…
The information document shall be drawn up on a durable medium. It shall include, presented in a clear and legible manner in characters no smaller than the height of the size eight, the following information and particulars:1° For each credit agreement being considered for consolidation, information relating to that agreement and the terms and conditions of its repayment:a) The nature of the credit, the amount of the instalments, the amount…
In order to draw up the disclosure document on the basis of accurate information, the lender or intermediary shall ask the borrower to provide the documents, in particular the contractual documents, provided by the original lenders or any other creditor for each loan or receivable being considered for consolidation. If the borrower does not have these documents, the lender or intermediary asks the borrower to request the necessary information from…
The staff concerned by the obligation of professional competence mentioned in articles L. 314-24 and L. 314-25 are natural persons who work for the creditor and who are directly involved in drawing up, offering, granting or advising on the credit agreements referred to in Articles L. 312-1 and L. 313-1, as well as natural persons who directly manage or supervise the aforementioned persons. The relevant staff of credit intermediaries are…
Lenders and credit intermediaries shall ensure that the staff defined in article D. 314-22 fulfil the conditions of professional competence resulting from: 1° Either a diploma mentioned in the agreement of 10 June 2011 on vocational training, concluded within the framework of the national collective agreement for banking and made compulsory by the order of 5 July 2012 extending a rider and agreements concluded within the framework of the national…
Lenders and intermediaries shall ensure that their staff satisfy the professional training obligation mentioned in 2° of article D. 314-23 when they take up their duties.
Lenders shall ensure that the professional knowledge and skills of their staff are kept up to date, as part of ongoing training, through appropriate professional training, the minimum duration of which shall be set by order of the Minister responsible for the economy, taking particular account of changes in the applicable legislation or regulations.
The vocational training referred to in 2° of Article D. 314-23 as well as the continuing education referred to in Article D. 314-25 : 1° Their purpose is to enable people to acquire legal, economic and financial skills prior to entering the profession and to maintain these skills during their activity. The skills acquired in this context and their updating are subject to a control at the end of the…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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