Consumer loan law
Siv Jensen - Norway's Minister of Finance - demands changes to the consumer loan law. As he claims, the new regulations in this area introduced a year ago turned out to be insufficient. He is calling for even stricter rules to be introduced to contain the increasing debt of Norwegians.
Even more restrictive law
A year ago, Norway introduced regulations modeled on Danish solutions. In her opinion, however, they did not turn out to be sufficient. Now it has asked the Danish Financial Supervisory Authority to draft new regulations that will give the Norwegian authorities an even greater ability to oversee lending and lending practices.
Consumer loan law. More sanctions for those who do not comply with the law
As emphasized by Jak Erik Fane, banks that do not comply with Norwegian law are still a pressing problem. They try to circumvent the rules in any way possible. The new regulations are to give the Norwegian government the tools to impose greater sanctions on those financial entities that try to bend the law. In his opinion, perhaps a justifiable solution is to change the meaning of the legal interpretation guidelines. They are now used as guidelines, and perhaps it is worthwhile to make them a principle to be followed.
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