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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 27, 2023 No. 193

About approval of the Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies

According to Articles 7, of 15, of 17, 56 Laws of Ukraine "About the National Bank of Ukraine", Articles 28, of Item 30 of the Section VII of the Law of Ukraine "About financial services and finance companies", Articles 5, of 26, 28 Laws of Ukraine "About consumer crediting", for the purpose of settlement of procedure for application of corrective actions for violation of the consumer protection law of financial services by the collection companies regarding the requirements for interaction established by the legislation of Ukraine with consumers in case of settlement of overdue debt (requirements for ethical behavior) the Board of the National Bank of Ukraine DECIDES:

1. Approve Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies which is applied.

2. Recognize invalid:

1) the resolution of Board of the National Bank of Ukraine of July 9, 2021 No. 78 "About approval of the Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies";

2) the resolution of Board of the National Bank of Ukraine of January 21, 2022 No. 6 "About modification of the Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies";

3) Item 2 of the resolution of Board of the National Bank of Ukraine of October 14, 2022 No. 220 "About approval of the Regulations on the organization, carrying out and registration of results of inspection checks of the collection companies and modification of the Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies".

3. To department of methodology of regulation of activities of non-bank financial institutions (Sergey Savchuk) to inform the collection companies information on adoption of this resolution.

4. The resolution becomes effective since January 1, 2024.

Approved by the Resolution of Board of the National Bank of Ukraine of December 27, 2023 No. 193

Regulations on application of corrective actions by the National Bank of Ukraine for violation of the consumer protection law of financial services by the collection companies

I. General provisions

1. This Provision is developed according to the laws of Ukraine "About the National Bank of Ukraine", "About financial services and finance companies" (further - the Financial services act), "About consumer crediting" (further - the Law on consumer crediting), other legal acts of Ukraine and for the purpose of settlement of procedure for application of corrective actions for violation by the collection companies which are not financial institutions (further - the collection companies), the consumer protection law of financial services regarding the requirements for interaction established by the legislation of Ukraine with consumers in case of settlement of overdue debt (requirements for ethical behavior) (further - the legislation on settlement of overdue debt).

2. The terms used in this Provision are used in the following values:

1) the document in which violations are fixed, - the document constituted by results of implementation in established by the National Bank of Ukraine (further - National Bank) procedure for permanent supervision, inspection checks, including checks behind observance of the legislation by the collection company on settlement of overdue debt;

2) systematic violation of the law of Ukraine - making of two or more violations of the same regulation of the legislation by the collection company on settlement of overdue debt (further - similar violation) within one year after application to such collection company of corrective action for similar violation;

3) the continuing violation violation in case of which the collection company after making of violation does not stop to perform it;

4) authorized officer of National Bank - The chairman of National Bank, the First deputy and vice-chairmen of National Bank, the head of the structural unit of National Bank to which functions supervision of observance of requirements of the legislation for settlement of overdue debt belongs (further - structural division on consumer protection), the head of the structural unit of National Bank to which functions implementation of inspection checks of the collection companies, the head of the structural unit of National Bank to which functions registration of the collection companies belongs (further - structural division on registration), the deputy manager of structural division on consumer protection, the deputy manager of structural division on registration, the chief of the department as a part of structural division on registration or faces belongs, the obligations which are carrying out them.

The term "consumer" is used in sense of the Law on consumer crediting. Other terms used in this Provision are used in the values determined in the Law of Ukraine "About the National Bank of Ukraine", the Financial services act, the Law on consumer crediting.

3. This Provision determines procedure for application by National Bank of corrective actions for violation by the collection companies of the requirements established by the legislation on settlement of overdue debt.

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