The 2022-2025 rulings on Swiss franc loans.

Since 2022, several rulings of the French Cour de cassation have shaped Swiss franc loan litigation. Each one answers a specific question: the limitation period for the claim, the time allowed to seek restitution, the position of borrowers paid in Swiss francs. All of them apply the transparency standard set by the Court of Justice of the European Union on 10 June 2021. This case law is recent and liable to change.

The European starting point.

On 10 June 2021, the Court of Justice of the European Union (CJEU) set out the transparency a bank owes to the borrower of a foreign currency loan (case C-609/19). On the same day, in cases C-776/19 to C-782/19, it held that a claim to have a term declared unfair is not time‑barred. We have devoted an article to judgment C-609/19.

The ruling of 30 March 2022.

The facts.

In 2008 and 2009, the borrowers had taken out mortgages with BNP Paribas Personal Finance, denominated in Swiss francs and repayable in euros. They asked for the exchange‑rate clauses to be declared unfair. The court of appeal had held their claim time‑barred.

The decision.

In a published ruling (no. 19-17.996), the First Civil Chamber settled the question of limitation. A claim to have an unfair term deemed unwritten is not subject to the five‑year period. The Court also requires the bank to explain the exchange mechanism in concrete terms.

Its reach.

A borrower can challenge the term long after signing. The ruling opened the claim to borrowers who had signed in 2008 or 2009.

The ruling of 12 July 2023.

The facts.

The loan at issue was denominated in Swiss francs, at a variable rate. The lower courts had found the exchange‑rate clauses unfair. The question concerned the time allowed to seek restitution of the sums paid.

The decision.

In a published ruling (no. 22-17.030), the First Civil Chamber set the starting point of that period. A restitution claim becomes time‑barred five years after the court decision that finds the term unfair.

Its reach.

The borrower’s timetable becomes clear. A claim to have the term found unfair is not time‑barred. The restitution claim must be made within five years of the decision that finds it unfair.

The rulings of 9 July 2025.

The facts.

The cases concerned cross‑border workers who worked in Switzerland and were paid in Swiss francs. The property financed was in France. 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.

The decision.

In two published rulings of 9 July 2025 (no. 24-19.647 and no. 24-18.018), the First Civil Chamber departed from that position. This case law is recent and liable to change. The exchange‑rate risk is assessed over the whole term of the contract. The judge takes into account foreseeable changes in the borrower’s situation, such as a new job, a return to France or retirement. The Court did not defer the effects of this ruling, which applies to pending proceedings.

The two rulings do not reach the same result. In case no. 24-18.018, the Court dismissed the borrower’s appeal, because the bank had given clear information on the effects of a change in the exchange rate. The outcome therefore depends on the documents in each case.

Its reach.

Since these rulings, a borrower paid in Swiss francs can rely on the protection against unfair terms. The information the bank provided remains decisive. A borrower who lost under the earlier case law can have a lawyer check what the stage of their proceedings allows.

The rulings cited.

European case law.

The Cour de cassation applies the CJEU’s transparency standard. On 21 September 2023 (C-139/22), the CJEU made clear that the average consumer test is objective. The borrower’s professional experience, even in banking, does not release the lender from its duty to inform.

Questions still open.

Several points are still argued before the courts. They concern additional damages, the calculation of restitution after early repayment, and bullet loans repaid in a single sum at maturity. The civil consequences of the criminal conviction of BNP Paribas Personal Finance for misleading commercial practices are also still debated. The trial courts decide case by case.

What it means for a borrower.

A borrower can challenge an exchange‑rate term long after signing. Restitution must be claimed within five years of the decision that finds the term unfair. Since 9 July 2025, a borrower paid in Swiss francs can also rely on these rules. This case law is recent and liable to change.

In the Swiss franc loan programme, reviewing your case costs you nothing. Hello Justice covers the flat fees of COGEP AVOCATS (€5,000). Costs and disbursements remain capped at €300 including VAT. If the case succeeds, a success fee of 14% including VAT, shared between the lawyer and Hello Justice, is taken from the sums actually recovered. If it fails, you owe Hello Justice nothing.

The programme’s eligibility test checks whether your loan falls within the period concerned, then a specialised partner lawyer analyses your case. A dedicated page summarises the latest rulings.