President Vējonis signs two key laws

President Raimonds Vējonis has promulgated two key laws, first, on the publication of formerly secret KGB records, secondly on the regulation of the market for "instant loans".

Confirmation that the laws had been signed onto the statute books was made in the official gazette, Latvijas Vēstnesis on October 16.

The publication of KGB materials has long been a contentious issue with strong arguments made on both sides. On the one hand, complete openness ha been called for in the belief that only this can finally remove the shadows of the past. However, opponents of publication say they fear the documents contain numerous falsehoods that may ruin the reputations of some individuals.

With regard to amendments to the Consumer Rights Protection Act, the changes will introduce new conditions for the issuance of payday loans which can lead people into serious debt, including limits of applicable interest rates and repayment terms.

 

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