Ukrainian banks are prohibited to impose penalties for late payments

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Saturday, July 4, the law came into force.

In Ukraine Saturday, July 4, banks are prohibited to charge a penalty for late payments during the quarantine. Today the relevant law entered into force, reports the Chronicle.info with reference to RBC.

The document protects borrowers from penalties and fees on loans during the period of quarantine and a 30-day period after its completion.

The changes made in the commercial code.

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The law comes into force the day after publication, and on Friday it published in the edition “Voice of Ukraine”.