Cross‑border worker: can you challenge a Swiss franc loan?

Yes. A cross‑border worker paid in Swiss francs can have their loan’s exchange‑rate clause reviewed. On 9 July 2025, the Cour de cassation held that the exchange‑rate risk is assessed over the whole term of the loan, as the property financed is in France Source [1]. This is recent case law, liable to change. The same day, it upheld the clause of a bank that had clearly informed its client.

A population heavily exposed to these loans.

Swiss franc mortgages were very widely distributed in the border area. More than 230,000 people today live in France and work in Switzerland (Swiss Federal Statistical Office, cross‑border commuter statistics, third quarter of 2025) Source [2].

Borrowing in the currency of one’s salary could seem safe. But the property financed is located in France and is valued in euros. Salary, job and place of residence can also change over the whole term of a mortgage.

The 2023 position and its reversal.

On 1 March 2023 (no. 21-20.260), the Cour de cassation had held that a borrower paid in Swiss francs when the contract was signed bore no exchange‑rate risk. Several courts of appeal then refused these borrowers the protection against unfair terms.

The rulings of 9 July 2025 depart from that position Source [1]. The exchange‑rate risk is assessed over the whole term of the contract. The court takes into account foreseeable changes in the borrower’s situation, such as a new job, a return to France or retirement. This is recent case law, liable to change.

The Court did not limit the effects of this ruling in time. It applies to pending proceedings as well as to claims not yet brought.

What the Consumer Code provides.

In its version in force in October 2026, article L. 313-64 of the French Consumer Code governs loans denominated in a currency other than the euro Source [3]. A borrower may only take out such a loan if they declare that they mainly receive their income, or hold assets, in that currency when signing. The only exception is a loan under which the borrower bears no exchange‑rate risk Source [3].

The same article requires the lender to inform the borrower of the risks of the contract, at the latest when the offer is issued Source [3]. The options for converting repayments into euros must also be set out. These rules are aimed precisely at borrowers who receive their income in the currency of the loan. For an older loan, the rules that apply are those in force on its signing date, which the lawyer checks.

What the court assesses in each case.

The Court of Justice of the European Union requires that the borrower was able to assess the economic consequences of a change in the exchange rate (20 September 2017, C-186/16) Source [4]. It also holds that the burden of proving that a term is clear cannot rest on the consumer (10 June 2021, C-776/19 to C-782/19) Source [5].

The borrower’s knowledge of the field does not change that duty. On 21 September 2023, the Court of Justice held that a bank must inform the borrower of the essential features and risks of the contract (C-139/22) Source [6]. That duty applies even when the borrower is its employee and knows the field.

The information the bank actually gave remains decisive. In case no. 24-18.018, decided on 9 July 2025, the loan dated from 2014 Source [1]. The offer and two signed notices, including the document provided for by the recommendation of the French Prudential Supervision and Resolution Authority of 6 April 2012, informed the borrower. The Court dismissed the appeal, and the clause was upheld. This is recent case law, liable to change.

Each claim is therefore judged on the documents handed over at signing. Our list of documents to gather explains what to find, and our guide to the exchange‑rate clause sets out the court’s criteria.

Frequently asked questions.

I am still paid in Swiss francs: does the risk exist for me?

For the Cour de cassation, the risk is assessed over the whole term of the loan Source [1]. The court looks at a property located in France and at foreseeable changes in your situation. This is recent case law, liable to change. A new job, a return to France or retirement are part of those changes.

I lost a case before July 2025: what can I do?

A borrower who lost under the earlier case law can have a lawyer check what the stage of their proceedings allows. On 12 June 2025, the Cour de cassation held that an earlier judgment, which had found the claims time‑barred without reviewing the terms, did not prevent their review Source [7]. A judgment that did review the clause is a different situation, which the lawyer assesses.

My loan is repaid: am I still affected?

A repaid loan can be reviewed, and a claim against the unfair term is not time‑barred. Our article on the repaid Swiss franc loan covers this case.

How can I have my loan checked?

The programme’s eligibility test starts with a few questions about your loan, and the documents can then be uploaded from your online space. ACTIVE AVOCATS, a firm of the COGEP AVOCATS group, reads the loan offer and checks its dates. Our guide to the remedies covers the whole process, and the page on the rulings of 9 July 2025 the decisions themselves, recent case law, liable to change.