Decision on Imposing a Coercive Fine on OCN CREDIT AUTO SRL for Non-Compliance with CNPF Decision No. 24/1

REPUBLIC OF MOLDOVA NATIONAL FINANCIAL MARKET COMMISSION 77 Stefan cel Mare si Sfant Blvd., Chisinau, MD 2012, tel: (373 22) 859 401, www.cnpf.md, e-mail: office@cnpf.md DECISION January 6, 2026 No. 1/3 On the application of a coercive fine to OCN "CREDIT AUTO" SRL for non-execution of the Decision of the National Financial Market Commission No. 24/1 dated 19.05.2025 regarding the petition registered with the National Financial Market Commission No. 2036 on 18.03.2025, in relation to OCN "CREDIT AUTO" SRL

On 19.05.2025, the National Financial Market Commission (CNPF) adopted Decision No. 24/1 regarding the petition registered with the National Financial Market Commission No. 2036 on 18.03.2025, in relation to OCN "CREDIT AUTO" SRL (Decision No. 24/1/2025/Decision).

According to points 1 and 2 of Decision No. 24/1/2025, "1. It is established that OCN "CREDIT AUTO" SRL has violated the provisions of Art. 5 para. (3) lit. f), Art. 10 para. (3) lit. f), Art. 20 para. (2) and Art. 23 of Law No. 202/2013 on consumer credit contracts. 2. It is established that OCN "CREDIT AUTO" SRL has violated the provisions of Art. 15 para. (7) lit. b) of Law No. 202/2013 on consumer credit contracts in part regarding the establishment of the total cost of credit higher than the disbursed amount according to the Credit Contract with interest No. [...] dated 01.08.2022.".

According to point 3 of the Decision, "3. OCN "CREDIT AUTO" SRL is requested to refund to the debtor all payments provided for in the Credit Contract No. [...] dated 01.08.2022 (which include interest, commissions, fees, penalties, late interest and any other type of payment), except for the initial disbursed amount according to the Contract.".

Furthermore, in accordance with point 4 of Decision No. 24/1/2025, the creditor was to inform the CNPF, within 30 days from the date of notification of the Decision, about the actions taken to execute the prescription set forth in point 3 of the Decision. Also, in point 5 of Decision No. 24/1/2025, "5. OCN "CREDIT AUTO" SRL is ordered to review, within 60 days, the portfolio of credits in force on the date of adoption of this Decision, in order to identify all debtors in relation to whom violations were admitted under Art. 15 para. (7) lit. b) of Law No. 202/2013 on consumer credit contracts, in part regarding the establishment of the total cost of credit higher than the disbursed amount, as well as to notify such debtors about the collection of only the disbursed amount or the refund by the creditor of all payments provided for in the contracts (which include interest, commissions, fees, penalties, late interest and any other type of payment), except for the initial amount, disbursed according to the credit contract, as applicable.".

In this case, in accordance with point 6 of Decision No. 24/1/2025, the creditor was to inform the CNPF monthly about the actions taken, in order to execute the prescription indicated in point 5 of the Decision.

In this instance, on 29.09.2025, within the CNPF, the Information Note (Note No. 1), submitted by Mr. [...], representative of OCN "CREDIT AUTO" SRL, was registered (No. 7129), in which it is invoked that, "[...] regarding the legality or illegality of pts. 1-3, [...] of CNPF Decision No. 24/1 dated 19.05.2025, the judicial courts will be addressed. Regarding point 5 of CNPF Decision No. 24/1 dated 19.05.2025, O.C.N. "CREDIT AUTO" S.R.L. has reviewed the portfolio of credits in force on the date of adoption of this Decision, including the review of non-bank lending contracts.".

Taking into account what was communicated via Note No. 1, non-execution of pts. 3 and 5 of Decision No. 24/1/2025 was established, as well as the violation of the notification deadline to the CNPF regarding measures taken to execute the Decision.

Subsequently, by letter No. 04-5/4454 dated 13.11.2025, the CNPF initiated, ex officio, the administrative procedure, aimed at verifying the actions taken by the creditor to execute the Decision.

Furthermore, the CNPF communicated to the creditor, at the email address [...], about the initiation of the administrative procedure and requested the submission, by 27.11.2025, of information regarding the execution of pts. 3 and 5 of Decision No. 24/1/2025, indicating the measures taken by them.

In this context, it should be noted that, within the deadline set by the CNPF, the creditor did not submit the requested information.

Consequently, it should be noted that Decision No. 24/1/2025 is an individual administrative act, within the meaning of Art. 10 para. (1) of the Administrative Code, namely: "(1) An individual administrative act is any provision, decision or other official measure taken by a public authority to regulate an individual case in the field of public law, with the aim of producing immediate legal effects, by the creation, modification or termination of public law legal relations.", as well as an unfavorable act, under Art. 11 para. (1) lit. a) of the same law.

Accordingly, by nature and legal effects, the Decision is mandatory and enforceable, under the conditions provided by law.

In this context, under the conditions of Art. 179 of the Administrative Code, "An obligation based on an individual administrative act or an administrative contract, aimed at handing over a good, carrying out another action, tolerating or inaction, can be enforced through the following coercive measures: performance by substitution, coercive fine and immediate exercise of coercion (direct coercion).".

In this case, given the nature of the obligation prescribed by Decision No. 24/1/2025 and the fact that the execution of the Decision directly concerns the obligations of OCN "CREDIT AUTO" SRL, it should be recorded that the execution of this individual administrative act can be carried out, in the order provided by Book Two, Title VII, Chapter III of the Administrative Code, only through the application of the coercive measure in the form of a coercive fine.

In turn, Art. 185 para. (1) and para. (3) of the Administrative Code provides that, before coercive measures are applied, the party is summoned regarding the possibility of using coercive measures, with a reasonable deadline for execution set in the summons.

Additionally, in the case of a summons with a fine, the amount of the fine is indicated.

According to Art. 181 para. (4) of the Administrative Code, "(4) The amount of the coercive fine is at least 20 and at most 10,000 conventional units. One conventional unit equals 50 lei. When setting the coercive fine, the economic interest of the debtor in non-fulfillment of the obligation concerning them will be taken into account.".

Thus, in accordance with Art. 185 of the Administrative Code, on 02.12.2025, the CNPF adopted Decision No. 58/6 regarding the summons for execution by OCN "CREDIT AUTO" SRL of the Decision of the National Financial Market Commission No. 24/1 dated 19.05.2025 regarding the petition registered with the National Financial Market Commission No. 2036 on 18.03.2025, in relation to OCN "CREDIT AUTO" SRL (Decision No. 58/6/2025), according to which the creditor was summoned to execute pts. 3 and 5 of Decision No. 24/1/2025, within 10 working days from the date of its notification.

In this regard, by Order of the CNPF President No. 1206 dated 04.12.2025 regarding the suspension of the administrative procedure, initiated ex officio on 13.11.2025, in relation to OCN "CREDIT AUTO" SRL, the administrative procedure was suspended until 17.12.2025 inclusive.

Furthermore, by Order of the CNPF Vice-President No. 1245 dated 23.12.2025 regarding the extension of the administrative procedure, initiated ex officio on 13.11.2025, in relation to OCN "CREDIT AUTO", the deadline for the administrative procedure was extended by 15 days.

Subsequently, in accordance with Art. 94 of the Administrative Code, by CNPF letter No. 04-5/4925 dated 19.12.2025 (sent to email addresses [...] and bodiuangel@mail.ru), OCN "CREDIT AUTO" SRL was notified of the right to be heard on 24.12.2025, at 09:00, regarding the facts and circumstances relevant to the act to be issued, with a request to confirm participation or refusal to participate in the hearing procedure by 23.12.2025, at 16:00, to the email addresses office@cnpf.md and liubovi.vacariuc@cnpf.md.

On this subject, it should be noted that OCN "CREDIT AUTO" SRL did not confirm participation in the hearing within the established deadline and, consequently, the creditor's representative did not appear on the date and time indicated in the summons.

Subsequently, on 24.12.2025, within the CNPF, the Information Note (Note No. 2) was registered (No. 10321), submitted by Mr. [...], representative of OCN "CREDIT AUTO" SRL, through which the position is expressed that "[...] O.C.N. "CREDIT AUTO" S.R.L. reiterates that regarding the legality or illegality of pts. 1- 3, 7 of CNPF Decision No. 24/1 dated 19.05.2025, the judicial courts will be addressed, [...] Regarding point 5 of CNPF Decision No. 24/1 dated 19.05.2025, O.C.N. "CREDIT AUTO" S.R.L. reiterates that it has reviewed the portfolio of credits in force on the date of adoption of this Decision, including the review of non-bank lending contracts.".

Thus, from the content of Note No. 2, non-execution of points 3 and 5 of Decision No. 24/1/2025 is established.

Consequently, given the factual circumstances exposed above, the CNPF finds that the prescription set forth in point 1 of Decision No. 58/6/2025 was not executed within the established deadline.

Furthermore, the creditor was warned that, in case of non-execution of the obligation set forth in point 1 of Decision No. 58/6/2025, the CNPF will apply a coercive fine in the amount of 150 conventional units, equivalent to 7,500 MDL, due upon expiration of the deadline indicated in point 1 of the aforementioned Decision.

In this context, Decision No. 58/6/2025 contains the necessary reasoning for establishing the amount of the fine to be applied in case of non-execution.

Thus, it is repeatedly appreciated that the coercive measure in question is appropriate for achieving the goal and is necessary in relation to it, as it aims to execute an obligation established by law, and that specific method of execution of individual administrative acts has a legal basis.

Regarding the reasonableness, in accordance with Art. 29 para. (3) of the Administrative Code, which provides that "(3) A measure taken by public authorities is reasonable if the interference produced by it is not disproportionate in relation to the goal pursued.", it should be specified that the coercive fine in the amount of 150 conventional units, equivalent to 7,500 MDL, aims to emphasize the enforceable nature of the individual administrative act, satisfying this criterion, being proportional to the violated rights of the consumer of credit services.

Given the above, under the authority of Art. 4 para. (21), Art. 8 lit. b), Art. 9 para. (1) lit. d), Art. 18 para. (3), Art. 20 para. (1), para. (6) and para. (7) and Art. 22 para. (3) of Law No. 192/1998 on the National Financial Market Commission, Art. 181 and Art. 186 para. (1) of the Administrative Code and pts. 16 and 19 of the Regulation on the organization and functioning of the National Financial Market Commission (Decision No. 57/11/2022),

The National Financial Market Commission DECIDES:

1. A coercive fine in the amount of 150 conventional units, equivalent to 7,500 MDL, is imposed on OCN "CREDIT AUTO" SRL.
2. The coercive fine in the amount of 7,500 MDL must be transferred by OCN "CREDIT AUTO" SRL to the IBAN account MD52TRGAAA14336101000000, Ministry of Finance – State Treasury, fiscal code 1006601000037, within terms of 7 days from the notification of this Decision.
3. Regarding the measures taken to execute this Decision, OCN "CREDIT AUTO" SRL will inform the CNPF within 30 days from the date of notification of this Decision.
4. Control over the execution of this Decision is assigned to the Credit/Deposits Department within the Consumer Protection Supervision Department and the Legal Department.
5. This Decision may be contested by submitting a preliminary request to the CNPF (MD-2012, Chisinau, 77 Stefan cel Mare si Sfant Blvd.), within terms of 30 days from the date of notification.
6. This Decision enters into force on the date of adoption, is communicated to the recipient in accordance with legislation and is published on the official website of the CNPF (www.cnpf.md).

Dumitru BUDIANSCHI, PRESIDENT