Court of Justice of the European Union in favour of CHF borrowers
Following the disputes concerning settlement of foreign exchange risks involved in foreign currency credit facilities, which have also appeared in other Member States, the Court of Justice of the European Union examined the issue as well. In its ruling of 2017-09-20, the Court adopted the requirement for credit facility contract conditions to be written in a simple, comprehensible language. This requirement not only comprises the grammatical transparency of the message but also the comprehensibility of the scale of consequences of the contract being signed by the borrower during its term, including foreign exchange rate fluctuations. In this dispute, the Court backed the group of bank customers.