A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders

In 2007, Ms Anica Milivojević, a Croatian national, concluded with Raiffeisenbank, which has its registered office in Austria, a non-renewable credit agreement in the sum of €47 000 in order to have renovation work carried out in her home, more particularly to create apartments in it for letting. The loan was taken out using an … Continue reading A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders

European Commission fines Mastercard €570 million for obstructing merchants’ access to cross-border card payment services

The European Commission has fined the card scheme Mastercard €570 566 000 for limiting the possibility for merchants to benefit from better conditions offered by banks established elsewhere in the Single Market, in breach of EU antitrust rules. Commissioner Margrethe Vestager, in charge of competition policy, said: “European consumers use payment cards every day, when they buy … Continue reading European Commission fines Mastercard €570 million for obstructing merchants’ access to cross-border card payment services

Security Union: Commission welcomes agreement on stronger rules criminalising money laundering

The Commission welcomes the agreement reached by the European Parliament and the EU Member States on strengthened criminal law measures to counter money laundering. The new rules, proposed by the Commission in December 2016, will harmonise offences and sanctions for money laundering, ensuring that dangerous criminals and terrorists face equally severe penalties for their crimes across … Continue reading Security Union: Commission welcomes agreement on stronger rules criminalising money laundering