Polish banks to jointly work out standardized bank contracts
July 18, 2014
Bankers will cooperate with the competition and consumer protection watchdog UOKiK to work out standard agreements with clients and unify glossaries of banking terms, a proposal originated at the banking lobby ZBP.
Standardizing bank contract clauses is aimed at avoiding the risk of UOKiK questioning some of them as abusive, which has cost the sector PLN 200 million in fines since 2008.
A working team at the ZBP will present its proposals of model credit and current account agreements in the autumn.