OUG 50/2010
The Romanian emergency ordinance that transposed EU consumer-credit law and created the 14-day withdrawal right.
OUG 50/2010 (Ordonanța de Urgență nr. 50/2010) is the Romanian law that transposed EU Directive 2008/48/EC on consumer credit agreements into domestic legislation, taking effect on 21 June 2010. It sets the ground rules IFN fast-loan lenders must follow: standardized pre-contractual disclosure, the DAE calculation methodology, and — most consequentially for borrowers — a 14-calendar-day right to withdraw from a signed credit agreement without giving a reason.
Under OUG 50/2010, a consumer who withdraws must still repay the principal plus any interest accrued up to the withdrawal date, generally within 30 days of sending notice, but the lender cannot charge any additional penalty for the withdrawal itself. The right does not extend to certain linked-purchase credit contracts or to leasing agreements, which are treated separately under Romanian law.