Reform of Fast Credit Supervision Stalled, but Promised to Be Advanced in Saeima
Non-bank lenders issued over €1 billion in loans in 2025, and discussions continue about transferring supervision from PTAC to the Bank of Latvia, but the new government has paused the process.
Non-Bank Lending Exceeds One Billion
According to the Consumer Rights Protection Centre (PTAC), non-bank lenders issued loans totaling more than €1 billion in 2025. This includes remote loans commonly known as fast loans, as well as leasing and other types of non-bank loans. PTAC currently supervises this sector.
Debate on Supervisory Changes
There are ongoing discussions about whether oversight of non-bank lending should be transferred from PTAC – an institution that also controls the quality of toys, clothing, and footwear – to the Bank of Latvia. The previous government was moving in this direction, but the new cabinet decided to take a pause in its first weeks. This was reported in LTV's program "De facto."
Future of Reform
Although the reform has stalled, it is still promised to be advanced in the Saeima. No specific timeline has been provided yet. Representatives from PTAC and the Bank of Latvia have not commented.
