Parliament Bill to Protect Bank Customers

07:23 - 08 Απριλίου 2016

A bill regulating unfair bank charges, which is aimed at protecting borrowers, and a bill on the solvency of insurance companies are to be tabled at the House plenum on April 7, as reported by the Cyprus Mail.
Speaking after a meeting of the House Commerce committee, its chairman Zacharias Zechariou said the bill on bank charges “creates a framework of trust between the banking system and the borrower by calculating the interest payment of loans at 365 days instead of “the previously followed technique, which was at 360 days”.
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