The general provisions found under Council Directive 93/13/EEC of 5 April 1993 on unfair terms in consumer contracts (the “Unfair Terms Directive”), which is aimed at safeguarding consumer rights in contracts with suppliers, have often been analysed and supplemented by judgments of the Court of Justice of the European Union (“CJEU”) over the years. Particularly in relation to banking and financial contracts, the CJEU has assessed specific terms in such contracts, including clauses on variable interest rates and foreign currency loans, alleged to be unfair.
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