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The Banking Litigation Law Review (4th edition)

20/01/2021
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Published in The Law Reviews

This year’s edition of The Banking Litigation Law Review demonstrates that litigation involving banks shows little sign of slowing and continues to evolve.

In recent years, banking litigation in Spain has been governed by several judicial resolutions that have increased the number of claims brought against financial entities. Given that a significant number of Spanish courts have positioned themselves as pro-consumer, judicial proceedings against financial entities have overwhelmed Spanish courts in the last decade. This led to the constitution of specialised courts for certain banking litigation proceedings, the aim of which was to reduce the workload of other courts that were accumulating significant delays.

Spanish courts have shaped the current landscape of banking litigation, determining how to apply the corresponding regulation that, in truth, has not changed significantly in recent years. European Directive 93/13/EEC of 5 April 1993, on Unfair Terms in Consumer Contracts, constitutes the basis on which member states have adapted their own national regulations. Its implementation in Spain was carried out through the introduction of laws such as Law 7/1998 of 13 April, on General Conditions of Contracts, and Royal Decree-law 1/2007 of 16 November, approving the consolidated text of the General Defence of Users and Consumers Act and other complementary laws.

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