On 19 February 2025, the Credit Servicers and Credit Purchasers Act came into force. The regulation is intended to encourage banks to get rid of exposures related to non-serviced loans from their balance sheets, i.e.:

  • credit agreements referred to in Article 69 of the Banking Act, and
  • agreements under which the bank provides financing in the form of a deferred payment, loan or other similar form.

The Act introduces a new category of loan servicing entities. These are mainly entities that deal with the recovery of debts, the processing of debtors’ complaints and side activities concerning debts. These entities will have to be authorised by the Polish Financial Supervision Authority to operate. In addition, they will be required to have:

  • appropriate internal procedures and policies for the conduct of these activities, including on the risk management system and the internal control system,
  • procedures to protect the rights of borrowers,
  • procedures to assess the borrower’s financial situation,
  • procedures for receiving complaints and grievances, as well as appeals against such complaints and grievances.

These entities will also have to fulfil their obligations under the AML/CFT regulations as obliged institutions.

Entrepreneurs in the loan servicing business may continue to operate without a licence until 60 days after the entry into force of the Act. If the entrepreneur applies to the PFSA for a licence during this period, the entrepreneur will be able to continue to operate under the existing rules until the application is processed.

At the same time, the Act introduces obligations for debt buyers. These include obligations to report to the Polish Financial Supervision Authority on the acquired debt portfolio and its further disposals. In contrast, in their dealings with borrowers, buyers will have to inform borrowers of the acquisition of debt and act in good faith, honestly and professionally, provide clear, non-misleading and truthful information to borrowers and communicate with borrowers in a manner that does not constitute harassment, coercion or undue influence.