Consumers who contract a loan in foreign currency must be able to assess the economic consequences of the application of a rate of exchange (the selling rate) to the repayment of the loan which is different from that applicable to the calculation of the amount of the loan when it is made available (the buying rate)
Date of article: 30/04/2014
Daily News of: 30/04/2014
Country: 
EUROPE
Author: Court of Justice of the European Union
Article language: en
The national court may substitute a provision of national law for an unfair term in order to re-establish a balance between the parties to the contract and to preserve its validity