On the motion of the Legal Affairs Committee, the Riigikogu rejected the Bill on Amendments to the Law of Obligations Act and the General Part of the Civil Code Act (451 SE), initiated by the Social Democratic Party Faction, at the first reading. The Bill had been intended to establish legal limits to the application of very high annual percentage rates upon the provision of the consumer credit service, including the provision of the “express loan” service, which conflicts with good practice. The result of voting: 46 votes in favour, 30 against.
The Riigikogu Press Service
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