The government has introduced a financial salad law, many minor changes may come


By Zsolt Semjén handed in The package of proposals is presented by Márton Nagy, Minister of Economic Development. However, the amendments include one or two more interesting rule changes, such as:

  • Sleep accounts with a negative balance often cause unjustified problems for consumers, as if neither the account holder nor the payment service provider cancels the contract, the outstanding debt will continue to increase. The change in these cases after an unsuccessful call from the account holder provides for the termination of the payment account management contract with two months’ notice. If the account holder dies, the notice period will be extended.
  • The bill provides the National Deposit Insurance Fund (NDIF) with the opportunity to participate in supervisory investigations. The MNB supervises the fulfillment of the deposit insurance obligations of the member institutions, but in the framework of the audit the NDIF may also propose measures, which the supervisor will take into account when drawing up its annual audit plan.
  • Investment fund managers will no longer be required by law to fax office equipment.
  • Under the Motor Liability Insurance Directive, the minimum amounts of insurance cover must be reviewed every five years in accordance with the European Index of Consumer Prices. Accordingly, the amendment adjusts the maximum amounts of insurance cover specified by law. Accordingly, the maximum insurance coverage for material damage varies from HUF 1 million to HUF 1.3 million per event, and from HUF 6,070,000 to EUR 6,450,000 for personal injury claims.

Cover image source: Getty Images


Source: Portfolio.hu – Bank by www.portfolio.hu.

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