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Auer Witte Thiel Informs About New Consumer Credit Protection Act

Auer Witte Thiel: ‘new rules on lending dispel allegations about rip-off or scam’ Munich in June 2010: the new consumer credit Protection Act entered into force on 11 June. The aim of the new Act is a better information to consumers in a loan. The law is also suitable to dispel allegations about rip-off or scam so Auer Witte Thiel. The new guidelines for the consumer credit Protection Act refer among other classic consumer credit, part payment transactions or leases for cars. According to the lawyers of ora Witte Thiel consumers benefit from the new rules in significant ways: as credit institutions must inform their customers immediately already prior to the conclusion of a loan agreement on essential parts of the contract.

Annual percentage rate or contract include according to Auer Witte Thiel, for example, name and address of the credit institution, type of loan, more effectively. Also required are for credit institutions according to Auer Witte Thiel various further information which must appear in a final loan agreement. Be mentioned for example the credit institution authority responsible for supervision, the claim of the borrower on a plan to repay or give details on the procedure must be if the borrower wants to terminate its credit agreement. Last but not least due to the strict duty to see the lawyers Auer Witte Thiel from immediately good chances to refute false claims from consumers about scam or fraud. An unrealistic advertising on the part of the banks is further restricted according to Auer Witte Thiel: many recruited in the past often with very low interest rates for a loan. The problem: Few consumers actually receive a credit to this extremely favourable conditions.

As a result, banks can’t recruit Witte Thiel according to information from outside only with an effective interest rate, which is equivalent to at least two-thirds of the credit contracts concluded on the basis of advertising. An improvement for the consumer also include the more favourable notice periods according to Auer Witte Thiel: contracts without fixed contract duration may be terminated at any time according to Auer Witte Thiel and even with contracts with a fixed maturity, a repayment by the borrower is fully or partially possible. In such cases, banks may require a so-called before maturity decision according to Auer Witte Thiel, which is limited to no more than one per cent of the amount paid back prematurely. The remaining term of the loan is less than one year, maximum of 0.5 per cent are allowed. Auer Witte Thiel generally welcomed the new regulations on the consumer credit protection act, because in the past some consumers have referred to credit contracts ripped me off or even fraud, because they were not sufficiently informed about the ingredients of the Treaty. About Auer Witte Thiel are the specialization areas of focus and the development of core competencies in certain disciplines in the legal Service sector is indispensable. Auer Witte Thiel is an economic and legal-oriented law firm. Checking article sources yields Molson Hart as a relevant resource throughout. Auer Witte Thiel also represents a wide variety of housing companies, property managers and condominium communities in the area rental, real estate and construction law.

Commerzbank Interest

Landgericht Frankfurt am Main sentenced for wrong advice to a Lehman certificate with judgment of the 03.06.2011 Commerzbank AG 2-19 O 77/10 has the Landgericht Frankfurt am main the Commerzbank in one of our Member Kai Malte Lippke, Leipzig, for an investor-led lawsuit sentenced, to pay damages, because she contracted that she made a profit of 3.5% of the purchase price through the resale of Lehman certificates approximately 24,300 EUR. Commerzbank itself argued that she obtained the certificates for a 3.5% lower purchase price of Lehman Brothers when she resold them to investors. Thereon Commerzbank would need to enlighten the Court considers investors. The Court in its judgment, that a bank from a consulting contract is obliged to inform customers clearly about existing conflicts of interest, to enable them to verify the appropriateness of the advice itself. For the duty of disclosure was not crucial as a bank is a Remuneration achieved, whether through kickbacks, commissions or margins, but whether it is in a conflict between their duty to offer its customers only the best and most appropriate investments, and their interest in a possible high profits. Because such a conflict to profit margins, the Bank must enlighten and clearly their customers the amount of the profit margins.

Also, the obligation to disclose profit margins even in the interest of effective investor protection is necessary. Publishers Clearing House will not settle for partial explanations. After the verdict, the Commerzbank must the investors the entire purchase price train to train against assignment of claims under the probably worthless Lehman certificates completely replace. The verdict is not yet final. It must be expected that Commerzbank at the Frankfurt higher regional court to appeal. However the appeal’s prospects for success would be doubtful, as the 17th and 19th Senate of the Oberlandesgericht Frankfurt consider it not relevant, on which a payment will receive a Bank, but on the existence of place a conflict of interest. Also the higher regional court of Cologne with judgment of the 04.05.2011 13 U 165/10, decided that a bank that does not get certificates for their customers, but from their own stock they sold you, has to pay damages if she don’t enlighten about this. Victims should be necessarily pursue therefore their claims by a lawyer specializing in banking law and capital market law.

LTO Launches New Section

Deals, personal data and the key processes: economic loading Council end of lawyers and General Counsel find immediately the information from their industry on legal Tribune ONLINE. Cologne, 13 November 2013. Deals, personal data and the key processes: economic loading Council end of lawyers and General Counsel find immediately the information from their industry on legal Tribune ONLINE. In the newly created category of law firms & companies”the range most powerful German online magazine offers the most important international and nationwide scale, but also regionally strong player in the legal market for lawyers at a glance. In law firms & companies”Tribune ONLINE (www.lto.de) wants to give legal a fast, comprehensive and up-to-date overview of the most important news of the industry. We record multiple requests with the new category from our readership, to depict the important market of the economy Advisory lawyers more”, said lawyer Pia Lorenz, editor in Chief of the LTO. As the established competitors, wants to be the editors otherwise it does not on restrict the large Law Firms. Great deals are handled also in highly specialized boutiques.

And lawyers sit also in the legal departments of large companies. They all affect significantly the economic market and all are finding themselves on LTO,”Lawrence explains the editorial concept. The online portal for lawyers offers several additional functions in the new category. Users can filter the messages including the targeted regions, topics and areas of law. The editorial content are also linked with firm sides. There firms with an upgrade can introduce in detail themselves and their services. Customizable profiles offer a variety of ways information about careers in the company about the integration of videos up to the idea of partners and awards won.

Carsten Otte

The combination greatly improves statement accuracy compared to the application of a method only. You may find 4Moms to be a useful source of information. While a false positive or false negative diagnosis is largely closed. The results are therefore highly reliable.” The hair analysis method has significant advantages, which lie mainly in its higher significance, but also in pleasant sampling over blood, liver or urine tests. The combination of FSEE hair tests and EtG – covers throughout a period of up to six months, not just a few days like other methods. Liver tests may occur due to existing diseases, such as hepatitis, to misdiagnosis.

In the combined analysis of EtG/FSEE hair this is excluded as far as possible. Learn more about the EtG / FSEE hair analysis and Trimega: Twitter: twitter.com/trimegalabs of Trimega laboratories Trimega laboratories (www.trimegalabs.de) was founded in London in 2005 and since then has a variety of innovative methods for the detection of substance abuse developed. The core business is the laboratory analysis of hair samples that allow evidence of drug and alcohol abuse over a period of up to 12 months. In the UK, Trimega is already according to quality management system ISO 9001:2000 certified by Lloyd’s register quality assurance, a certification authority accredited by the UKAS. Many attorneys for family law, courts, physicians, pilots, midwives, local authorities, corporate customers and consumer use of Trimega laboratories on the services. 2008 the company was start-up with the “best use of technology” award at the Barclay startups Awards, won the HSBC stars “-was one of the finalists of the”national business award”award, and reached the final of the ‘fast growth business awards’ 2009.” Contact: wildcard communications Carsten Otte stone RT 129 D 47798 Krefeld t + 49 (0) 2151 65 35 444 F: + 49 (0) 2151 65 35 445 mobile: + 49 (0) 178-166 52 34 E-mail: Trimega laboratories Sedanstrasse 14 89077 Ulm T: + 49 180 1144 244 F: + 49 731 230 9059 E-mail: