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Analyses, feedback and legal news on banking law, credit law and enforcement.
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The bank del credere, a little-known but effective guarantee
Your bank offers to guarantee payment to your customers in the event of default: this is the del credere, a discreet but highly effective form of security. Originating in medieval trade, this technique transfers the risk of insolvency to a bank intermediary.
The end of the banking relationship: account closure and its legal consequences
Your bank has decided to close your account, or you want to switch to another one: this contractual breach triggers legal consequences that are often not well understood. Advance notice, closure fees, balance settlement - each stage is governed by the Monetary and Financial Code and case law. Here's what you need to know before your account is closed.
When banking secrecy disappears: due diligence obligations and the fight against money laundering
Banking secrecy does not protect bankers from their legal obligations to exercise due diligence. If there is any suspicion of money laundering or terrorist financing, the bank must report the transaction to TRACFIN - or risk incurring liability. These obligations profoundly reshape the relationship between the bank and its customer.
Understanding banking secrecy in France
Your bank holds information about you that you would not share with anyone else, and you assume that banking secrecy protects it completely: this is not the case. Nearly twenty public bodies can access your bank details without your consent, under conditions precisely defined by article L.511-33 of the French Monetary and Financial Code. Here's what this secrecy really covers, and where it gives way.
Credit lawSTRUCTURED LOANS AND "TOXIC LOANS
Your local authority or company has been involved in a structured loan where the interest rate has rocketed - known as a toxic loan. These products, indexed on opaque mathematical formulae, have been the subject of massive litigation since 2008. This article explains how they work, the banks' failings and the basis for liability claims.
Banking and finance lawParticipative financing: what innovations in 2024?
Find out about the innovations in participative financing in 2024, a fast-growing method of financing a variety of projects in France, including renewable energy.
Contentious withdrawal: how does it work in 2024?
Your bank has assigned your debt to a debt collection company for a fraction of its face value: you may be able to free yourself by paying only the price actually paid by the assignee. Litigious withdrawal, as provided for in Article 1699 of the Civil Code, gives you this option under specific conditions that have been strictly interpreted by the courts. Here's how to determine whether you can invoke it.
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