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03.14.2012

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MicroWorld

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The Crédit municipal gives away its debts

Le Parisien

It was a really splendid operation for The Crédit municipal de Paris bank, when, for its 375th birthday, it decided to cancel its customers’ pawn loans under 150 euros! In practical terms, customers who had entrusted personal objects for money to the Crédit municipal, can recover their family jewels or other personal objects, without the establishment asking them to give back the equivalent in euros.

Among the various credit solutions for the most disadvantaged, the “Mont de Piété de Paris” has a singular history: created in 1635 by Théophraste Renaudot, doctor and journalist, also known for having founded the magazine “La Gazette de France”, it has been shut down and revived several times at the whim of the ups and downs of the history of France, before being renamed “Crédit Municipal” in 1918.

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