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Ruling on fairness of disproportionately high default interest rate in consumer loan agreements (ECJ) | Practical Law https://content.next.westlaw.com/practical-law/document/Ib1096d039b2111e8a5b3e3d9e23d7429/Ruling-on-fairness-of-disproportionately-high-default-interest-rate-in-consumer-loan-agreements-ECJ?viewType=FullText&transitionType=Default&contextData=(sc.Default) In the joined cases of Banco Santander SA v Demba and another (Case C-96/16) and Cortes v Banco de Sabadell SA (Case C-94/17) EU:C:2018:643, the ECJ ruled the Unfair Contract Terms Directive does not preclude national judge-made law stipulating that a non-negotiated term in a consumer loan agreement is automatically unfair if it fixes the default interest rate at more than two percentage points above the rate of ordinary interest under the agreement.

Ruling on fairness of disproportionately high default interest rate in consumer loan agreements (ECJ)

Practical Law UK Legal Update Case Report w-016-1863 (Approx. 7 pages) Ruling on fairness of disproportionately high default interest rate in consumer loan agreements (ECJ)by Practical Law Commercial Related Content
Published on 14 Aug 2018 • European Union
In the joined cases of Banco Santander SA v Demba and another (Case C-96/16) and Cortes v Banco de Sabadell SA (Case C-94/17) EU:C:2018:643, the ECJ ruled the Unfair Contract Terms Directive does not preclude national judge-made law stipulating that a non-negotiated term in a consumer loan agreement is automatically unfair if it fixes the default interest rate at more than two percentage points above the rate of ordinary interest under the agreement.

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