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Forex loans don’t require investment advice, EU court rules

( December 3, 2015, 12:26 GMT | Official Statement) -- MLex Summary: Banks aren’t obliged to provide investment advice to borrowers when making loans denominated in foreign currencies the EU Court of Justice has ruled. The foreign-exchange element was incidental to the credit and didn’t constitute a financial instrument, such as a currency forward contract, the Luxembourg judges said. The ruling follows a question referred by a Hungarian court, which is hearing a lawsuit from borrowers....

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