Legal tip 380. NYT on Bank excesses in Spain
Friday, October 29, 2010 @ 9:19 AM
An interesting report on the New York Times this week.
http://www.nytimes.com/2010/10/28/world/europe/28spain.html?_r=2&pagewanted=1&emc=eta1
Therefore, as the guarantees and protection that are currently most easily enforced are those held by Banks, we must work and reinforce all those Guarantees existing and to exist in favour of persons and families.
For a balanced and suatainable system centered of persons.
We have a good example in Spanish Law 57/68 which, in provision 1.2, make Banks liable of the guarantees and lack of guarantees as per stablished by this same Law in regards to off plan advanced deposits. If Banks did not secure on the existence of the Guarantees, they are liable of associated effects on individuals.
Regarding foreclosures, Banks will have the democratic limit of judicial judgements on them if a good and technically well grounded Dation as payment procedure, out of provision 1175 of the Civil Code, is started by the Debtor before the Bank starts repossession.
Let´s play Consumers rights, create a stronger legal, judicial and social conscience of them and look for new ways of protection of individual people and families against the voracity and cruelty of the old-fashioned financial system many of us are suffering from.
Have a great weekend,
Maria
Patio de la Acequia, Generalife, Granada by SantiMB at Flickr.com