Republic of Armenia: Consumer Credit Law

This law intends to protect the rights of Armenian consumers who use credit, develop the credit system, establish unilateral rules, enhance financial intermediation, and increase consumers' confidence in the financial system. This law consists of the following chapters:

• Chapter 1 – General provisions;
• Chapter 2 – Credit agreements;
• Chapter 3 – Consumer rights;
• Chapter 4 – Calculation of annual percentage rate;
• Chapter 5 – Advertising and communication;
• Chapter 6 – Protection of consumer rights through Court, Arbitration and by Financial System Ombudsman;
• Chapter 7 – Transitional provisions.