REGULATION PROBLEMS AND THEIR POSSIBLE SOLUTIONS IN THE LITHUANIAN EXPRESS CREDIT SECTOR

Abstract

Abstract. Express credit institutions have started their activities only five years ago when the economic crisiscame and increased the borrowing demand. Now, we have the consumer credit law and other legislative actswhich aim to ensure this sector regulation. However, there still remain problems that have to be solved. Themain of them are inconsistencies in consumers' solvency evaluation in different companies, the lack of financialknowledge in society and its information, the aggressive lending and advertising policy. The increasingdemand for this service shows its importance and proves the necessity to maintain it in the market while at thesame time ensuring consumer protection.Key words: express credits, pay-day loans, consumer credit