Regulatory Alerts2026-03-10 | 12/5Added · Updated
CNPF Decision No. 12/5 of 10 March 2026 on OCN MOGO LOANS SRL's Request to Annul Decision No. 2/3 Regarding Extension of Refund Deadline under Decision No. 28/3
The National Financial Market Commission of Moldova issued Decision No. 12/5 of 10 March 2026 rejecting OCN "MOGO LOANS" SRL's preliminary request to annul Decision No. 2/3, which had denied an extension for refunding overcharged consumer payments within 180 days. The Commission determined that the refusal to extend the deadline was proportionate, necessary, and reasonable, as postponement would perpetuate unlawful retention of consumer funds and undermine effective financial consumer protection under Law No. 202/2013. Furthermore, the authority concluded that the creditor's cited operational and financial difficulties constitute inherent business risks rather than objective grounds for delaying compliance, and that the initial notification method failed to adequately inform debtors of their refund rights.