From American Banker By TAMAR FRANKEL July 10, 2014 Many contributors helped bring about the most...
Regulation N 8/05 on Minimal Requirements for Communication
(enacted in 2009)
Regulation N 8/05 on Minimal Requirements for Communication of 2009 applies to banks (for deposits and consumer loans), credit organizations (including microfinance organizations), and pawnshops (for consumer loans) in Armenia. The regulation specifies the information that should be provided to the customers before signing the contract, terms and details to be included in the contract, and information that has to be communicated to the customer during the life of the contract (including details to be included in the deposit and loan account statements).
DISCLAIMER: Due to the fact that an English translation was unavailable for this law, information for this summary has been taken from secondary sources and not from review of the actual legal text.