THE INNOVATIONS THAT THE NEW CONSUMER PROTECTION LAW NR.6502 BROUGHT ABOUT IN TERMS OF CONSUMER LOANS

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Consumer credit could be defined as the form of a loan to meet the financing of goods and services purchased. Consumer credit allows the purchase of needed goods on time but with a later date of payment and with future income. Consumer Loans are regulated in Article# 22, on the new Consumer Protection Law # 6502. New Consumer Protection Law # 6502 has brought important innovations on consumer protection. Specific conditions in the contract forms, restrictions on modifications, the right of consumers’ withdrawal in a certain period of time, restrictions on interests and expenses which may be taken from the consumer credit borrower are the main innovations that protect the consumer.

409

Consumer Credit , Bank Liability , Contract , Consumer Law

Journal Of Financial Researches an‎d Studies

436

Journal Of Financial Researches an‎d Studies