"4Finance" received data on consumer liabilities only from one of the credit reference bureaus which is contrary to the Consumer Rights Protection Law. 4Finance granted loans to consumers when they should not have been granted if the information on all the consumer's existing liabilities had been known, said PTAC.
PTAC imposed a fine of €285,000. The maximum fine applicable for unfair commercial practices infringements in Latvia is €300,000.
PTAC pointed out that if a cred...