Browsed by
Month: September 2019

Conditions for credit intermediation become stricter

Conditions for credit intermediation become stricter

The Credit Institutions Act, as amended in December 2009, also introduced new rules for intermediaries. Financial services (in the ordinary sense, credit, mortgage, car and real estate loans) can be performed by dependent intermediaries and independent intermediaries linked to a financial institution. The latter include agents and brokers. After September 30, independent intermediaries can only operate under the permission of the Hungarian Financial Supervisory Authority (Hungarian Financial Supervisory Authority). Obtaining the license is subject to an examination approved by the…

Read More Read More