|Author (Corporate)||European Court of Justice, Information Service|
|Publisher||European Court of Justice (ECJ)|
The Hungarian legislation excluding the retroactive cancellation of a loan contract denominated in a foreign currency which includes an unfair term relating to the exchange-rate risk is contrary to EU law. The cancellation of the contract must be possible where it cannot continue to exist without the unfair term.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Financial Services|
|Keywords||Banks | Banking, CJEU Judgements
|Countries / Regions||Hungary|
|International Organisations||European Union [EU]|