{"id":12250,"date":"2026-06-22T18:57:00","date_gmt":"2026-06-22T15:57:00","guid":{"rendered":"https:\/\/en.tomanifesto.gr\/?p=12250"},"modified":"2026-06-22T18:57:00","modified_gmt":"2026-06-22T15:57:00","slug":"takis-theodorikakos-breaking-down-the-fine-print-on-loans-new-strict-regulations-for-banks-and-credit-cards-video","status":"publish","type":"post","link":"https:\/\/en.tomanifesto.gr\/?p=12250","title":{"rendered":"Takis Theodorikakos: \u201cBreaking Down\u201d the \u201cFine Print\u201d on Loans \u2014 New Strict Regulations for Banks and Credit Cards (video)"},"content":{"rendered":"

New strict framework for banks<\/b> and cards with borrower protection<\/b>, maximum fee limits and an end to hidden costs on loans<\/b> and credit products<\/b>.<\/p>\n

The Minister of Development and Investment, Takis Theodorikakos<\/b> is placing a radical increase in transparency in bank lending<\/b> at the center of the government\u2019s efforts, with the main focus being a new strict aimed at eliminating \u201cfine print\u201d terms<\/b> in loans<\/b> and credit cards<\/b>. The legislative initiative seeks to reshape the consumer credit landscape<\/b>, by imposing clearer limits on the total cost of borrowing and strengthening citizens\u2019 rights to information and <a href="https:\/\/tomanifesto.gr\/protection<\/b> for citizens against complex banking practices. At a time of increased financial pressures on households<\/b>, the initiative aims to serve as a mechanism to limit financial burdens<\/b> and restore the balance between borrowers and financial institutions<\/b>.<\/p>\n

At the same time, Takis Theodorikakos <\/b>referenced <\/b>the usefulness of the new digital platform PosoKanei <\/b>in informing consumers<\/b><\/b>.<\/p>\n

Theodorikakos on PosoKanei: The need for consumer awareness among citizens<\/h3>\n

\u201cPosoKanei is a platform for informing citizens created by the new Independent Authority. Consumers check the prices of each item and decide where they can shop more affordably. All opposition parties, instead of complaining, should be commending us for doing this,\u201d the Minister of Development emphasized, noting that this is an initiative that consumer organizations should have undertaken years ago. \u201cWe want to help foster consumer awareness among citizens and collaborate with the consumer movement. We\u2019re on the same side of the hill,\u201d he emphasized.<\/p>\n

When asked whether the creation of this app is an admission that the government is doing nothing to address the rising cost of living, Mr. Theodorikakos replied that \u201cThese are not serious matters. Does the fact that citizens are informed mean they accept that we\u2019re doing nothing? In every country, the consumer movement drives change and holds sway; here, its influence is limited. Instead of engaging in political rhetoric, certain people should be highlighting specific issues and exposing those who try to profit unfairly. A stronger consumer movement would help, and we should join forces.\u201d<\/p>\n

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The Minister of Development also referred to the measure capping profit margins in relation to 2025 \u201ca measure that no other government has ever taken in the past\u2014neither PASOK nor SYRIZA. The opposition has nothing to say about this. It is, of course, for a limited period of time, because we want a free market. If we hadn\u2019t taken this step, food and fuel prices would be much higher, partly because the price of oil has more than doubled due to the war. Of course, many of our fellow citizens are facing financial hardship. The question is what you do to help these people and contribute to a more productive economy that provides better wages. Our policy is having a significant impact.\u201d<\/p>\n

Regarding the banks <\/h3>\n

Regarding the bill on consumer credit, which is open for public consultation until June 29, Mr. Theodorikakos emphasized that \u201cit puts an end to the fine print, sets a cap on the total annual effective interest rate (APR), which cannot exceed 30% to 50%, and a cap on the final amount the borrower can pay. This applies to consumer loans, home improvement loans, and credit cards for amounts up to 100,000 euros without collateral. There is a right to withdraw from a loan agreement within 14 days, and citizens may request to speak with a person rather than a machine. Through our policies and actions, we are protecting consumers as well as the banking system itself.\u201d<\/p>\n

Regarding the polls, he noted that \u201cthey will have very little bearing on the election results. I\u2019m not saying this to criticize the polling firms, but there is a constant political dynamic, especially within the opposition. It\u2019s like quicksand. Mr. Tsipras and Mr. Androulakis claim they want to be the leading party, while they\u2019re actually fighting over who will come in second.\u201d Regarding New Democracy and achieving a majority, he emphasized that \u201cthe crucial question is what strategy we will follow from here on out.\u201d <\/p><\/p>\n","protected":false},"excerpt":{"rendered":"

New strict framework for banks and credit cards, including borrower protection, caps on fees, and an end to hidden costs on loans and credit cards…<\/p>\n","protected":false},"author":1,"featured_media":12251,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/12250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12250"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/12250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/12251"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}