Regulatory Alerts2016-01-28
Added · Updated
Rules for Handling the Public List of Consumer Credit Providers, Peer-to-Peer Lending Platform Operators, and Consumer Credit Intermediaries
The Board of the Bank of Lithuania approves procedures for including and removing consumer credit providers, peer-to-peer lending platform operators, and consumer credit intermediaries from public lists. The rules mandate that the Bank of Lithuania include eligible entities in the respective lists within three working days of a decision and notify applicants of inclusion or refusal within the same timeframe. Consumer credit providers and platform operators must notify the Bank of Lithuania of any changes to their data within ten working days. The resolution also repeals previous orders from the State Consumer Rights Protection Authority and establishes that the rules enter into force on 1 February 2016.