In his capacity as Chairman of the Association of the Responsible Non-Banking Crediting (ANBC) our colleague commented on the topic regarding the inspections of the Consumer Protection Commission (CPC) and the penalized companies which provided “instant loans”. He gave a very positive assessment for the regulatory activity of the CPC and clarified that the close liaison with such an active and useful market regulator is within the priorities of the ANBC. His comment made clear that the members of ANBC do not tolerate the established by the CPC unfair commercial practices. To prevent such practices the members of the Associations must comply with the Code of Ethics and the Common Regulations. That is what makes the difference in the quality of the provided services and the standards for the protection of the interests of the consumers which the ANBC applies.
On the question of how should the consumers act at choosing consumer loan provider he advised that they should spend more time examining the conditions prior to choosing a particular product and a company to apply for an instant loan. He also clarified that common economic principles apply in the very same way on the market of “instant loans” as they do on every other market and that is the reason why the consumers should seek products of companies with reputable names as value added guarantee for the quality of the product.
On what else Nikolay Cvetanov commented – watch the video:
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