Greek Development Minister Takis Theodorikakos Announces Law to Ban Hidden Banking Fees

Development Minister Takis Theodorikakos told parliament that the government is adopting a new legislative package to eliminate hidden fees and abusive practices in the banking sector. The bill will require full disclosure of loan contract terms, end the use of “small‑print” clauses, and define clear rights for borrowers.

The measures are presented as part of a broader strategy for a fairer market, stronger competition and greater transparency. They include a new Code of Ethics to curb misleading offers, the establishment of an Independent Consumer Protection Authority, and price‑freeze arrangements agreed with retail and industrial groups to curb inflationary pressure on households.