Pathway: Current The New Consumer Law Is In Effect

The New Consumer Law Is In Effect

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The New Consumer Law Is In Effect

The New Law Regarding the Protection of Consumer, which has been accepted on 07 Nov. 2013, has come into force as from the date 28 May 2014.

The new law contains significant changes and sanctions in many issues such as credit card contracts, card subscription fees, subscription agreements, promotions and advertisements.

Long debated contradictive issues relating to especially credit card practices, which are experienced by the working class, are trying to be resolved in the new legislation. With this new law, the banks will provide credit cards without any subscription fees. The consumer will be protected in more ways than before. Moreover, the era of charging for every bank transaction is coming to an end. With this new law, The Banking Regulation and Supervision Agency will be able to determine which transactions could be charged.

The expected practices for catalog retailing also come to life by giving prior information regarding the consumers internet agreements. 

You may access the full content of the New Legislation through this link.