Starting from 1 January 2024, the activities of lending institutions in the field of granting consumer loans will be subject to the supervision by the Polish KNF.
Any leasing contractor, where the customer is obliged to purchase the item mentioned in the contract, shall be defined as a lender. The same applies to contracts independent from leasing contracts.
In case the lender falls under Article 5, point 2a of The Act of 12 May 2011 on consumer credit, it is assumed that the lender is a lending institution, obliged to have an entry into lending institutions‘ register. It is a crime to perform lending activities without the inscription.
Other Features
agreement
credit
loan
supervisory practices
Date Published: 2023-12-11
Regulatory Framework: Act of 12 May 2011 on consumer credit
Regulatory Type: information
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