The ban on such adverts had been in force for eight years, but in the view of the Latvian Borrowers’ Association, the public’s financial literacy has not improved during this time. The Saeima adopted the regulatory changes this summer to harmonise Latvian and European legislation and ensure a level playing field for financial service providers.
The ban on consumer credit advertising has been lifted, whilst strict requirements have been set for the content of such adverts.
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