The reason for the block appears to be a ministerial decision, on recommendation of the Bank of Italy; Zopa has removed from the list of financial intermediaries because of stock Account Zopa lenders of money waiting to exit the loan.

Now with a communiqué on the blog administrator Sella said:

Dear Zopiani,
I always let the excellent cooperation they were my relations with our attentive and active community that has participated since the first day with passion and spirit of cooperation to the growth of Zopa.
But I must speak directly at a very critical and the Zopa social lending in Italy.

We have indeed received the decree of the Ministry of Economy and Finance who, on the recommendation of the Bank of italy, has effected the cancellation of Zopa dawn of financial ex Article 106. The company is evaluating all steps, including judicial nature, to protect its position and the community.
We are therefore forced to suspend discussion of new loans and the entry of new suppliers, and we want to continue, in a rigorous and precise as ever, to administer the loans outstanding.
But here I want to clarify what was the path that Zopa has done before being allowed to operate.
Initial reports with the Bank of italy date back to the late spring of 2006 when we appointed lawyers have begun to introduce the draft of Zopa to the Bank of Italy, to arrive, after a meeting and exchanged several letters, all authorization received in September 2007 by the Italian Exchange with the Registration of Financial ex Article 106. Zopa has also started operating in January 2008.
A mission from the Bank of Italy in recent months, there have been moves of the disputes to which we replied – while maintaining the soundness of our legal setting initiative – offering solutions with institutional counterparties that have in fact made no the complaint which we had been moved. But this was evidently not enough.
Zopa is an innovative project to very high ethical content and solidarity. Just consider that in 2008 (year of crisis in the century of creative accounting and fraud by billionaire) Providers zopiani have received excellent returns and applicants rates very favorable. In this moment of crisis, many plead the need for micro-credit loans united in favor of the less privileged classes: Zopa that he was doing.
It should be emphasized that to date the shareholder members have funded the company with more than 5 million, with the aim of making a serious business and reliable for all parties involved. People who are part of the team have been carefully chosen and best represent the spirit that animated us from day one: professionalism, but also the enthusiasm typical of people conscious of participating in a project ethical and social – as evidenced by the stories zopiane collected in the blog – but also very convenient for those who make part of this innovative ‘community of credit’.
Zopa in have always been transparent, not for fashion or convenience but for DNA. We believe in an ambitious project and we have developed in our country. It will handle this stage, hopefully soon, with our usual style, trying to minimize the inconvenience to all members of the community.
Thank you in advance for all the support that we want to give.
Maurizio Sella
Managing Zopa Italy SpA

Here instead the services remain active and not:
Remain active the following services:

Providers
credited monthly installments of loans outstanding
control movement and balance Zopa Wallet
Monitoring of loans financed
withdraw funds
update your personal information.

Applicants
charge rates up to repaying the loans
early repayment of the loan
view details of loans outstanding
rate control has been repayment rate
update your personal information.
Become inactive the following services:

Providers
creation and editing offer (all offers have been disabled in progress)
Re-Auto Loans
additional funds
RientroRapido
Fund assistance Delays

Applicants
new loan request

Bank of Italy also indicates that fall of 3.2% income tax in the first five months of the year so that, between January and May, the Treasury receipts fell by 4.5 billion Euros. According to the tables in the first five months of the year, measured net of Special Funds for the collection (i.e. the revenue already booked but no breakdown between taxes and contributions) to fund the tax revenues totaled 134.8 billion, up from 139.3 billion the same period last year.

It is estimated that in Europe will be burned 7% of 1730 billion Euros in consumer credit, while the U.S. will go’ lost 14% of 1914 billion dollars total.

The matter was taken into consideration by the Financial Times that focuses particularly on the United Kingdom.
In this country the consumer credit has passed the unemployment problems of prediction going to banks will deliver the money.

Also in the country of “Tea” Unemployment is rising and not expected to decrease, as the delinquencies of these years.
Concern about this “credit bubble” seems to cover all of Europe, but especially England.

To hold our “beautiful country”, do not believe that consumer credit is a concern and pervasive as in other nations.
Naturally, however, is a procedure in which the authorities must keep your eye focused and make sure it never exceeds the values from which he cannot go back.

This year 15.5% of households made use of consumer credit, while in January 2009 was 17.8%. The percentages are not high, but collection periods are quite close together.

Also about 50% of households claim to use consumer credit only by necessity and not as a customary purchase.
For Memory remaining 50%. That the consumer credit purchases allow quick, low monthly figures, but the interest rates drive up the purchase price at the expense of the buyer.

When possible I always recommend waiting in buying the product and put away each month the amount necessary to pay interest to the finance company.

This agreement is to facilitate the disbursement of funds in favor of large families, or severe illness or disability, who have lost all forms of income and have a draft re-entering the working world, or by a clerk or by an a business, thanks for a fund established by the CEI itself.

Fund initially with about 30 million, and maintained by a leading national bank operating as cash.

The characteristics of eligible guarantee:

• not exceeding 6 thousand Euros, payable in monthly installments of 500 Euros per month for a period of 5 years, That funding may be extended for another 12 months yet, and for other 6 thousand Euros after being requested by the customer and evaluation of the Bank.
• the Annual Percentage Rate (APR) may not exceed 50% of the average rate of charge (Tegma), on personal loans as the law states n.108/1996

The funding request will transit through the Diocesan Caritas or any indicated by the local bishop, who will have the essential task of careful consideration of requests and the real possibility of meeting the requirements of objective and subjective, everything will be through compilation at the diocesan offices of a questionnaire and the draft back into work, and attach the necessary documentation required by banks.

Lists of the diocesan offices and banks participating will be available directly from 1 September 2009 on the official website of the ABI: www.abi.it

Schematically, for retail customers has highlighted three situations: customer must be executed only in red with customer trust used within the limits prescribed, customer trust that goes beyond what is granted. Commission payable in these three cases varies from institution to institution. Here are some examples:

Monte dei Paschi di Siena
Gruppo Banca Monte dei Paschi di Siena, does know, has reformulated the commissions under the second principle of rationalization, clarity, simplicity and protection against customers. For those who go red without having a trust, there is an urgent inquiry commission with a maximum of $ 100 per quarter, is applied only if the overdraft exceeds 100 Euros once in three months even if you be in red on many occasions.

For customers who ask for a credit limit, however, triggered the consideration on the agreement, which replaces the Board of maximum overdraft, costs of settlement of accounts assigned, the costs of investigating and managing trust is pro tempore (that applies to the period where the client benefits from the availability of funds) and the maximum rate of 0.94% is expected to be approximately three months (3.75% annually). If you go over the credit limit there are no additional fees, but triggered the interest rate set for the crossovers.

BNL BNP Paribas
With BNL BNP Paribas, the customer will not be executed only in red pays the interest rate plus a fixed fee of 12.5 Euros for each episode, but only for cases of “red” from 21 Euros. For the provision of the exposure, the fee is 0.9% of the amount calculated on the duration of the exposure itself.

Credem
For customers not entrusted Credem, there is a commission for the days of real discovery: 2.5 Euros per day for bands of eur 1,000 or fraction thereof, with a maximum of 150 quarterly euro overruns are exempt liquids or less 100. Credem not apply to individuals on the Committee for making available funds. For those who are entrusted and below a threshold triggering the application of an increase in the rate agreed.

Ubi Banca
The UBI Banca Group has introduced a fee for making available funds plus a fixed cost recovery. For those who go to red without trust, the penalty shoot overrun. Furthermore, it was grouped under the heading “Expenditure Account Management” a series of charges payable by customers in various capacities.

Intesa Sanpaolo
Intesa Sanpaolo in the home was established for accounts that are not entrusted to the Committee in red shots overdraft: 2 Euros per day per thousand or fraction of a euro debit balance with a maximum of $ 100 per quarter (excluding debit balances to 100 Euros). For clients assigned to it, is only expected to pay an interest rate that varies according to whether you’re into it or spill (in which case the rate shall be applied to the entire amount).

Unicredit
Unicredit Bank (including Bank of Roma and Banco di Sicilia) does not apply to a committee assigned to 2 euro per 1,000 euro per day or part thereof in case of red. The amount is applied on the extra fee, even those who have an exposure is boundless. Those who remain in the establishment, pays immediate availability funds (from 0.1 to 0.5% agreement) calculated on the duration of the exposure.

Conclusions
The picture is quite articulate. Moreover, the ABI has indicated that it expects the application of rules by the banks but does not want to interfere in the business practices of individual institutions. The emergence of these new committees and non-uniformity of application methods for the time being has no place even in the portal PattiChiari comparison of current accounts, where it is still only provided the voice Cms. Source: IlSole24Ore