The government requires a halt in irresponsible consumer loans
The government requires banks to use the new debt registers to prevent irresponsible consumer loans. Consumer Minister Kjell Ingolf Ropstad (KrF) says to E24 that…
Consumer loans
Need not repay loans after ID theft
Several Norwegians need not repay loans due to ID theft Several recent verdicts have established that victims of stolen identity are not liable for bank…
470,000 Norwegian consumer loans sent for debt collection
At the end of 2018, Norwegians had amassed NOK 21 billion in consumer loans that had gone to debt collection. In total, there are 470,000…
The banks are getting rid of «rotten debt»
The banks are increasingly getting rid of «rotten debt» Banks sell defaulted loans, aka «rotten debt», to debt collection companies to a greater extent than before….
Banks dissatisfied with proposed five-year rule for consumer loans
Finanstilsynet will ban consumer loans over five years. But Norwegian consumer banks are unhappy that they are taking away their flexibility. On Friday, FSA…
Many young adults live on consumer loans
Nearly one in ten young adults between the ages of 19 and 29 state that they partially provide themselves with short-term credit or consumer loans….
Strong increase in consumer loans
Strong increase in applications for consumer loans More than 3.5 million applications for consumer loans were made in Norway last year, almost 700,000 more than…
Strong growth in defaults on consumer loans
A review of the accounts of credit card banks showed that the size of defaulted loans has doubled over the past year. Dagens Næringsliv…
The Consumer Council wants interest rate curb on consumer loans
Foreign online banks now offer what are called ‘express loans’ in the Norwegian market, loans with annual interest rates exceeding 1,000%. Jorge Jensen, CFO…
Students take up consumer loans to cover expenses
Students take up consumer loans to cover monthly expenses 6 per cent of young people between the age of 18 and 29 take up credit…
Parliament to investigate interest rates on consumer loans
Parliament has asked the government to investigate interest rates on consumer loans, and unsecured debt, in order to prevent Norwegians from falling into debt. Parliament…
Aggressive marketing of consumer loans to be banned
The Government proposes to ban aggressive marketing of consumer loans, according to E24. This was revealed at a press conference Tuesday including Minister of Finance,…
FSA to introduce stricter regulation on consumer loans
The banks are too slack in checking borrowers’ ability to pay, according to the Financial Supervisory Authority (Finanstilsynet). Now they want to make it harder…
Promotion of consumer loans being tightened
The financial industry is agreed on an industry norm to limit unwanted and ongoing marketing of consumer loans. Finance Norway and Association of Norwegian Finance…
Many homebuyers are using consumer loans as equity
One in five real estate agents have found that homebuyers are using the consumer loans to be able to provide the necessary equity, according to…
DNB chief warns of unhealthy growth in consumer loans
DNB bank chief executive, Rune Bjerke, said growth in consumer loans has been too high in recent years, and he calls for stricter rules. DNB…
Quick consumer loans may be prohibited
Norwegians consumer debt has almost doubled in eight years. A report the government has ordered, concludes that it may be prohibited to promote “simple, easy…
Bank Top requesting the tightening of consumer loans
Financial Supervisory Authority’s proposal to tighten mortgages must also include sound rules for consumer loans, believes Endre Jo Reite at SpareBank 1. – The problem…
A sharp rise in non-performing consumer loans
Debt collection companies are reporting a sharp increase in the number of non-performing consumer loans. The youngest account for the bulk of debt collection cases….
Banks earn billions on consumer loans
The largest consumer banks had a profit of 2.3 billion last year. The sum represents an increase of one billion from the previous year, according…