CONSUMER PROTECTION

Topics The importance of consumer

protection legislation Italian Civil Code Italian Consumer Code Italian Consolidated Law on

Banking

THE IMPORTANCE OF CONSUMER PROTECTION

LEGISLATION

Article 47 Italian Constitution The EU and the internal market Article 12 TFEU Europe 2020 Strategy for smart,

sustainable and inclusive growth

The financial crisis The confidence The consumer capacity The system stability

Review question

Which is the purpose of consumer protection?

ITALIAN CIVIL CODE

Articles 1321 e 1322 c.c. Equality between the parties Articles 1341- 1342 c.c.

Directive 93/13/EEC on unfair terms in consumer contracts

Divergences between the partiesArticle 1469 bis: consumer

contracts Unfair termsConsumer Code

Consumer is any natural person who is acting for purposes which are outside his trade, business or profession (article 3, lett. a) consumer code)

Review question

Which is the definition of «consumer»?

ITALIAN CONSUMER CODE(Legislative Decree 206/2005)

Article 4 (Consumer education) Articles 50-61(Distance

contracts) Article 68 (E-commerce);

legislative decree 70/2003 Article 136 (National Council of

Consumers and Users)

Article 33 (Unfair terms in agreements between a professional and a consumer)

Article 34 (Assessment of the unfair nature of terms)

Article 36 (Nullity for protection of consumers)

Article 140 bis (Class action) Article 141

(ADR, Alternative Dispute Resolution). ODR (Online Dispute Resolution)

Review question

What does «unfair» mean?

ITALIAN CONSOLIDATED LAW ON BANKING

(LEGISLATIVE DECREE 385/1993)

Specific protection Technical contract Asymmetric informations

Transparency Disclosure Legislative decree 154/1992

Article 116 (publicity) Article 117 (contracts) Article 118

(unilateral modification clause) Article 119

(communication with clients)

Directive 2008/48/EC on credit agreements for consumers

Legislative decree 141/2010 Articles 121-126

Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property (MCD Mortgage Credit Directive)

Legislative decree 72/2016 Articles 120 quinquies-120

noviesdecies

The property market bubble (subprimes)

Predatory lending Responsible lending Responsible borrowing

Review question

How did the property market bubble cause the 2008

financial crisis?

Summary question

Which is the purpose of consumer protection?

Which is the definition of «consumer»?

What does «unfair» mean? How did the property market bubble

cause the 2008 financial crisis?

CONSUMER PROTECTION