The law on credit brokers proposed by the Ufficio Italiano dei Cambi introduced a regulation dedicated to the extension of the transparency obligations to credit brokers (June 2005), with the aim of protecting the client by requiring that he be provided with precise information on the terms of service offered by the mediator.
The notice contains the client’s rights and the obligations of the broker
The first article of the Credit Brokers Law is the Notice of the Main Transparency Rules, the notice contains the client’s rights and the obligations of the broker. The ways that the customer can use to assert their reasons in case of dispute are also indicated.
The delivery of the prospectus is mandatory when the meeting takes place outside the mediator’s office. A copy of the text displayed to the public can be requested by the customer.
Includes all the main clauses and maximum service costs
Then we have the Service Information Sheet, which includes all the main clauses and maximum service costs and the delivery obligations mentioned above for the Notice.
Also within the Law, credit brokers There is also the pre-contractual information, which is a copy of the contract to be examined calmly, even at home, without being subjected to any term or condition, which can be granted once a verbally agreed agreement in principle.
Non-contractual agreements in this regard will have no validity
There is also an obligation that the mediation contract indicate the commission and any other charge, commission, expense or condition borne by the customer. Non-contractual agreements in this regard will have no validity.
Finally we find last the Banking Transparency, or when a loan request is received for the bank, the mediator is required to deliver the Notice of the Principal Transparency Rules of the credit institution and the Information Sheet of the loan that is proposing.