Regulatory Alerts2007-07-31
Framework Agreement for the Prevention of Usury and Support for Victims of Racketeering, Extortion, and Usury
The Italian Ministry of the Interior, Bank of Italy, and major business and consumer associations signed a Framework Agreement to enhance the prevention of usury and support victims of racketeering and extortion. The agreement establishes a permanent Observatory to monitor criminal phenomena, mandates rapid decision-making by banks and guarantee funds (Confidi), and requires the integration of marginalized borrowers, including those with dishonored checks, back into the legal credit system. It further outlines specific operational commitments for information dissemination, the use of prevention funds, and the protection of victims accessing the Solidarity Fund.
Share