Banks have between January 5 and 12 to make their cases on the matter of refunds to borrowers stipulated in legislation approved by Parliament last year.

Lenders that do take their cases to court must settle compensation owed to their clients between August 15 and September 30 of this year, or within 60 days from the conclusion of the court case.

Banks that decide against making their cases in court must settle with clients between April 16 and 30.

A number of banks earlier defended in court the practice of making unilateral changes to retail loans denominated in forex currency.

The legislation approved by lawmakers prohibits the practice for both FX and forint loans.

Source www.hungarymatters.hu

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