Prohibition of Abusive Clauses in Bank Loans
May 15, 2025
The District Court of Nicosia has issued a ruling prohibiting the use of abusive clauses in loan agreements by banks. This decision affects all borrowers and is considered particularly significant for consumer protection. It mandates the immediate cessation of standardized terms that grant banks rights without sufficient justification. The ruling was a result of a petition from the Attorney General of the Republic.