The Verkhovna Rada in the second reading adopted the bill No. 4241 to protect Ukrainians from collectors.

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The Verkhovna Rada adopted the bill No. 4241 as a basis in the first reading at the end of January 2021. It establishes the rules for the work of collectors and their regulation, in particular, the procedure for registering a collection company, standards of ethical behavior with debtors, requirements for supervision of collection activities, as well as sanctions for violations.

The National Bank will supervise collectors and their behavior in relation to debtors. It will also consider applications from citizens.

Banks and financial companies, according to the law, will have to notify customers about attracting collectors in case of late payments. This should happen even at the stage of signing the loan agreement..