|_G_|_E_|_F_|_O_|
|---|---|---|---|
|**_General_ consumer**<br>**protection law without**<br>**explicit reference to**<br>**financial services**|**Consumer protection law**<br>**with****_explicit_ reference to**<br>**financial services**|**Consumer protection**<br>**regulations within the**<br>**framework of****_financial_**<br>**sector legislation**|**_Other_ types of consumer**<br>**protection regulation**|

_G Consumer Act of the Philippines (1992)_ _E Republic Act No. 1405 – Law on Secrecy of Deposits (1955),_ amended by _Presidential Decree No. 1792 (1981)_ and _Republic Act No. 7653 – New Central Bank Act (1991); Republic Act No. 6426 – Foreign Currency Deposit Act of the Philippines (1974),_ amended by _Presidential Decree No. 1035 (1976)_ and _Presidential Decree No. 1246 (1977); Republic Act No. 3765 – Truth in Lending Act (1963); Republic Act No. 8484 – Access Devices Regulation Act (1998); Presidential Decree No. 957, Section 18 – The Subdivision & Condominium Buyers’ Protective Decree; Republic Act No. 7279 – Urban Development & Housing Act (1992); Republic Act No. 6977 – Magna Carta for Small & Medium Enterprises (1991),_ amended by _Republic Act No. 8289 (1997); Republic Act No. 9178 – Barangay Micro Business Enterprises Act (2002); Republic Act No. 8435 – Agriculture & Fisheries Modernization Act (1997); Republic Act No. 8792 – E-Commerce Law (2000); Batas Pambansa Blg. 344 – Law for the Disabled (1982); Republic Act No. 9510 – Credit Information System (2008)_ _F Revised Rules & Regulations implementing Republic Act No. 9160 – The Anti-Money Laundering Act (2001),_ amended by _Republic Act No. 9194 (2003); General Banking Law (2000); BSP Manual of Regulations for Banks (MORB); BSP Manual of Regulations for Non-Banks & Financial Institutions (MORNBFI) O BSP Manual of Regulations on Disclosure_ ; _Circular Letter–2009–038 on Consumer Protection against Unfair Collection Practices (2009); Circular Letter– 2009–029 on Consumer & Bank Protection & Complaints Handling Mechanism on Matters Related to Bank Security Programs & Use of Electronic Banking Facilities (2009); Circular Letter–2009–006 on Remittance Scam Involving the Use of Credit Cards (2009)_ ; Various advisories on BSP's Web site and in newspapers.

**Poland** √ √

√ √ _G Act on Competition and Consumer Protection (2007); Act on Combating Unfair Commercial Practices (2007) E Act on the Protection of Certain Consumer Rights and on the Liability for Damage Caused by a Dangerous Product (2000) F Act on Consumer Credit (2001) O Act on Investment Funds (2004)_

**Portugal** √ X √ √

_G Law No. 24/1996 – General Consumer Protection Law (1996) F Decree–Law No. 133/2009 of 2 June_ : Introduced a regime of maximum annual rates of charge that credit institutions must comply with in consumer contracts; _Instruction No. 8/2009: A Standardized Information Sheet_ to be provided to customers in the precontractual stages of consumer credit; _Instruction No. 11/2009_ : The standardization of the method for calculating the Annual Rate of Charge; _Decree–Law No. 192/2009 of 17 September_ : The introduction of the concept of Adjusted Annual Rate of Charge, an interest rate that takes into account the cost of products and services subscribed in tandem with a housing mortgage credit in order to reduce the spread or the fee of this credit, and also extends the rules of _Decree–Law No. 51/2007_ to related housing mortgage credits, specifically the caps on penalties in case of early repayment; _Decree–Law No. 103/2009 of 12 May_ : The creation of an extraordinary credit line, during two years, in order to provide protection of the proprietary home in case of unemployment; _Decree–Law No. 222/2009 of 11 September_ : The insertion of measures of consumer protection concerning life insurance contracts associated to the housing mortgage credit; _Notice No. 4/2009_ and _5/2009_ : A Standardized Information Sheet to be provided to customers for all kinds of deposits (plain vanilla, dual and indexed); _Notice No. 6/2009_ : A 100% capital guarantee for all deposits; the indexed deposits must be linked to relevant economic or financial variables; _Notice No. 10/2008 of 22 December_ : New information and transparency duties with which credit institutions have to comply when advertising their products and services; _Notice No. 8/2008 of 12 October_ : A list of fees and charges applied by credit institutions, when selling their products and services, must be easily accessible to customers in all branches; _Decree–Law No. 317/2009 of 30 October_ : A new legal framework applicable to Payment Services, which transposes the _European Directive No. 2007/64/EC_ ; _Decree–Law No. 430/91 of 2 November_ : Establishes the different types of deposits permitted by law; _Decree–Law No. 349/98 of 11 November_ and _Decree–Law No. 51/2007 of 7 March_ : Govern the commercial practices and information duties of credit institutions in the scope of housing mortgage credit; introduce the concept of annual rate of charge as well as a cap on the penalty fees charged in case of early repayment of housing loans; _Decree–Law No. 171/2008 of 26 August_ : Prohibits the charging of any fee for renegotiating housing mortgage contracts and for making such renegotiations dependent on the subscription of additional financial products and services; _Decree–Law No. 240/2006 of 22 December_ : Establishes the rules on interest–rate rounding in housing mortgage credit contracts.

_O Instruction No. 27/2003_ : Establishes a Standardized Information Sheet for housing mortgage credit, based on _European Commission Recommendation No. 2001/193/EC_ ; _Notice No. 3/2008_ : Establishes rules on the information provided to customers regarding their net current account balance.

# **Puerto Rico**

√ √ √ √ _G Law No. 4: Creates the Office of the Commissioner of Financial Institutions (1985) E Regulation No. 6194: Lease of Movable Property with the Option to Buy (2000) F Regulation No. 6451: On Collection Agencies (2002) O Regulation No. 7751: Against Deceptive Practices and Advertisements (2009)_

|**Romania**|X|X|X<br>X|
|---|---|---|---|
|**Russian**<br>**Federation**|X|√|X<br>√|

_E Law on Consumer Protection (1992)_ _O Law on the Insurance of Individual Deposits in Russian Banks (2003)_ 39