On Feb. 13, SWE CA announced new rules, special disclosure for loans
SWE CA announced new regulations KOVFS 2025:1 with a special disclosure for loans.
Since over-indebtedness is growing problem in society SWE GVT has decided to require special disclosure when marketing most loans.
Overview
SWE CA given right to prescribe content of information, way to provide it in marketing.
Credit agreements marketing must clearly state a loan costs money, if not repaid on time, payment notice that can lead to difficulty in renting home, getting new loans etc.
Since 2019, there is requirement for information text for credits with high costs.
The cited provision is now replaced by new Regulations on traders' information obligations when marketing consumer credits issued by SWE CA.
The new rules apply essentially to all credit agreements for loans to consumers.
Only mortgages, interest-free invoice credits exempt; as of Mar. 1 interest rate cap for new loans will be lowered, certain credits will no longer be called high-cost credits.
Entrepreneurs can find more information on new rules, text, symbols on its website.
Effectiveness
New regulations come into force on Mar. 1, 2025; KOVFS 2019:1 will cease to apply.
