ABUSIVE LATE INTEREST CLAUSES VIS-À-VIS THE SUPREME COURT RULING OF 22 APRIL 2015 AND THE ORDER OF THE COURT OF JUSTICE OF THE EUROPEAN UNION OF 11 JUNE 2015

Abstract

The Supreme Court's ruling of 22 April 2015 establishes it as jurisprudence that, in consumer loan agreements without collateral, a non-negotiated clause that sets an interest on late payment that is more than two percentage points higher than the accorded remunerative interest is abusive. This must be weighed in consideration of the relations between the general principles applying in default of specific legislation and the holistic interpretation of the contract, likewise the prohibition against eliminating abusive clauses when their elimination creates a loophole in the contract.