Nieuczciwe praktyki w zakresie refinansowania z wykorzystaniem krótkoterminowych pożyczek
Unfair refinancing practices using short-term loans

Summary/Abstract: The purpose of this article is to present civil law mechanisms protecting consu-mers against unfair practices of the financial market. Companies that grant loansoften bypass statutory cost limits out of concern for their own economic intereststo the detriment of their customers. Therefore, it is important to point out unfairpractices to which consumers are subjected by entrepreneurs operating in the loanservices sector.The work indicates the sources of consumer protection at the national andEuropean level, which are to counteract the violation of consumer rights in com-mercial transactions sensu largo. It should be stressed that the consumer in asym-metrical relations is a subject particularly vulnerable to unfair practices of thetrader, who often uses his advantage, especially his information advantage, to gainadditional income by imposing on the consumer a number of financial burdens (usu-ally not equivalent to the costs incurred by the trader), resulting in harming theweaker party to the loan contract, i.e. the consumer. The market of financial servicesthat specialise in granting short-term loans is not subject to control by the PolishFinancial Supervision Authority (KNF), which encourages unfair market practices,therefore it is important to notice the problem of lack of state supervision over theactivities of such companies.This paper is the result of analysis of case-law and literature in the field ofnon-bank financial services.

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