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FinMin Brands Bankers' Reaction to Proposed Changes as Hysterical
Thursday 14 January 2010 Zoom in | Print page
Bratislava, January 14 (TASR) - Finance Ministry State Secretary Peter Kazimir labelled the Slovak Banking Association's (SBA) reaction to a Government-approved initiatives on consumer loans and amendment to the Banks Act as "hysterical", TASR learnt on Thursday.
SBA president Igor Vida said earlier in the day that the Government doesn't respect the proper legislative process and the Memorandum on Co-operation signed with the Slovak Banking Association (SBA), referring to last-moment changes made to the law on consumer credit that was approved by the Government on Wednesday.
Bankers have reservations towards the amendment that was added by the Finance Ministry to the law shortly before the government session without the issue being discussed with bank representatives. In line with the proposal, Slovak banks would have to introduce a new product in their portfolios - a package of basic services for "ordinary clients" that would be identical at all banks.
Kazimir stressed that the amendment is based on EU legislation and targets one goal - to make the system of fees charged by banks more transparent. He denied SBA's allegations that they had been unaware of the prepared changes.
The bankers' irritated and hysterical reaction proves that the initiatives are the right move, with its drafters "hitting the nail on the head," Katimir said.
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