Legal tip 528. Prosecutors pro Consumers in Spain
16 May 2011 @ 08:28
Madrid Public Prosecutor, José Ignacio Esquívias Jaramillo, who has been recently
appointed as Prosecutor pro Consumers by the General Public , has taken part in
an ongoing judicial procedure against abusive clauses of Bank contracts.
This means that the results of this Case will be applied to all the finantial
institutions in Spain and not just to those who are part in the trial: BBVA and
Clauses under discussion in this case are:
- Floor clauses: Which limits reductions on mortgage interests.
- Clauses which require consumer´s request within ten days previous to revision if an interest rate change is applicable.
- Clauses which allow Entities to sell their own products without the previous consent of clients.
Good that Judges and Prosecutors are putting Consumers first. This drives to better balance.
Sancti Petri Beach, Chiclana, Costa de la Luz by La Convento at Flickr.com