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• Issues of the Regulation of Residential Credits

  44-51

  Tamas Prugberger

  Zoltan Nagy

  Views:

  179

  The study focuses on the theoretical and practical issues of lending from the legal regulation point of view. After the 90’s the consumer social model was set up in Hungary, and it was linked to a fairly broad consumer credit activity. However, the regulation of lending was insufficient in many areas; consumer protection has hardly existed in the financial services market. Debtors were unprotected when facing the financial institutions, which concluded contracts not in their favour and restricted their rights. The economic crisis, and the great number of insolvent debtors, has emerged as a social problem for legislators, thus enabling them to amend lending rules and strengthen consumer protection in this area.

  JEL classification: K 30

• Critisism of insolvency rules

  111-138

  Tamas Prugberger

  Csilla Csak

  Geza Karolyi

  Emese Toro

  Zoltan Nagy

  Views:

  94

  The co-authors, who are participants in the research program (Ministry of Education FKFP 0025/2001-2004), give a critical analysis of the Hungarian regulation of insolvency law in their recently published study. Their findings, proposals have been formulated after studying respecting rules in the USA and in major Western-European countries (Germany, Austria, Italy, France, England, Switzerland). Not only legal regulations have been processed and critically analysed in their study, but judiciary precedents related to them as well. The aim of the study is to help re-codify the Hungarian insolvency law.

• The institutional background of factoring

  71-96

  Zoltan Nagy

  Views:

  131

  The article examines the Hungarian financial institution system from the point of view of factoring. In the interest of clarifying concepts, the article compares the judicial and economic use of the concept, introduces the intermediary system, the banking system, and the financial institution system. It outlines the contradictions in institutional regulations relating to factoring and the history of the development of regulation in the financial sector in Hungary from the 1970 to the present. Besides presenting the deficiences in the regulatory system, the article suggests several alternative modifications to the Law, thus highlighting the significance of factoring. In this analysis the author deals with both international and national practices, which can both be used as a basis for future legal regulations, providing answres to the questions raised in the article concerning the institutional structure.