Legal Regulations Regarding Unfair Termsin Bank Loan Contracts

The problem of protecting the rights and interests of individuals, being consumers in loan agreements, against malpractice, was nationally raised in 1992 and at the community’s level by the Council Directive 87/102/EEC in the 22nd of December 1986 balancing laws, regulations and administrative provisions of the member states concerning consumer credit, laying down rules at the European Union’s level concerning consumer credit contracts. Ratified in 1992 by 12 European states, the Maastricht Treaty, shall fall into force in the following year, 1993. The novelty elements brought by the Treaty of Maastricht, besides the political union, points at the introduction of a common currency, European civic rights, but not least, the intensification of European Union’s consumer protection. Harmonization of the general conditions governing consumer credit The purpose of this study to identify the legal framework governing unfair terms in the sequence of their appearance at a national and European Union’s level and the implementation and harmonization with the general conditions governing consumer credit.