The Ministry of Energy’s Consumer Protection Service has proceeded with the registration of 56 court applications regarding prohibition decrees against banks and land developing companies upon detection of abusive clauses in consumer contracts.
According to information gathered by Phileleftheros, the Consumer Protection Service registered applications against 7 banks and 49 land developing companies in accordance with European guidelines regarding abusive clauses, thereby inciting these banks and companies to remove the said clauses while also allowing them the right to put forth an objection.
During June 2020, there was a decree issued by the Nicosia District Court after a request issued by the Consumer Protection Service against Societe Generale Bank, ordering the immediate cessation and non-repetition of use of terms which are included in a mortgage agreement form.
The aforementioned case paved the way for more requests against abusive clauses, while a multi-bill was recently approved which strengthened the Consumer Protection Service and serves to protect consumers further against abusive clauses.
The recently-approved bill also allows the Service to make requests for older cases and allow consumers to receive compensations.
It should be noted than an announcement published by the Consumer Protection Service on Monday is what indicated that it had proceeded with registering prohibitional decrees.
Within the announcement, the Service answered to the Cyprus Consumer Association which had previously accused the Service of not registering a request in court to protect collective consumer interests.
As mentioned by the Consumer Protection Service, the Cyprus Consumer Association had actually been informed on May 19 of the registering of prohibitional decrees against banks and land developing companies.