Analysis: Banks in Romania failed to warn customers of FX risks

The National Authority for Consumer Protection found that no bank in Romania has warned its customers of the risks they run if they kept the loans in foreign currencies. More than 220 Romanians with credits in Swiss Francs have made complaints to the Authority following the appreciation of the Swiss Franc in January. The banks have not warned them on the foreign currency risk and on the possible abusive appropriation of wages to cover the loans, people complain, reports local Mediafax. The National Authority for Consumer Protection has the duty to verify compliance with legal provisions on consumer protection and impose sanctions if companies violate regulations in force and consumer rights. editor@romania-insider.com