UNFAIR COMMERCIAL PRACTICE IN CREDITING CONSUMERS: L EGAL ASPECTS OF ADVERTISING

Abstract

The article is dedicated to unfair commercial practice in relation to consumer crediting and legal aspects of advertising. It is considered a topical matter due to a fast development of consumer crediting service market, which draws attention to issues of commercial practice exercised by the consumer crediting service providers, including compliance of consumer-targeted advertising with the requirements of normative acts. The article aims to consider the definition of commercial practice and the legal framework; to analyze legal aspects of advertising and sanctions related to the prohibition of unfair commercial practices. The average consumer relates to the market critically, reasonably and cautiously. They collect information about the quality and prices in order to make the right choices. Directive 2005/29/EC considers an average consumer to be a person, who does not need protection, because he or she is able to obtain the available information and react to it reasonably. The Directive assumes that there should be a correct balance between the need to protect consumers and to promote free trade at the open competitive market, which is not achieved by the Unfair Commercial Practice Prohibition Law.