Royal Decree-Law 1/2017, of January 20, 2017, on urgent consumer protection measures regarding floor clauses (BOE of January 21, 2017).
Jan 23, 2017.- An out-of-court channel is established to resolve consumer claims arising from the latest court rulings on floor clauses. The financial entity is obliged to attend to and resolve the claims of its customers within three months of their presentation. The procedure is free of charge for the consumer and payment will be in cash, although the client and the entity may agree on other formulas, such as the novation of the mortgage. Only if the consumer rejects the calculation of the amount to be returned or declines the return of the cash and subsequently files a lawsuit in which he/she obtains a more favorable ruling than the offer received, the financial institution will be ordered to pay the costs.