Royal Decree-Law 1/2017 on urgent measures for consumer protection in relation to floor clauses

Source: Spanish Government
Type of item: Policy events
Date: 20/1/2017

The government implemented some measures to protect consumers and ease the possibility that they reach agreements with financial institutions with which they have loans or mortgages. The agreements should ease the refunding of amounts paid by consumers as a result of the floor clauses in the contracts guaranteed with a real estate mortgage.

The RDL 1/2017 follows the judgment of the European Court of Justice on December 21st 2016, in Joined Cases C‑154/15, C‑307/15 and C‑308/15.