Hungary's Pszáf To Inspect Over 500 Banks

  • 4 Aug 2010 1:00 AM
Hungary's Pszáf To Inspect Over 500 Banks
"Financial supervisory Pszáf began a comprehensive consumer-protection probe of over 500 banks and financial institutions on July 30.

Advertised conditions will be checked against actual retail loan contracts, as will whether banking fees meet rules against unfair practice. The probe will end on December 31.

Pszáf said it will continuously update the public on its findings, and will check whether banks and financial institutions pass the costs of the new bank tax on to their customers.

Pszáf has sent its proposal to the economy minister. It also suggested to the National Bank (MNB) that banks apply the MNB’s or their own mid-rates when calculating exchange rates for retail foreign-currency debtors, Pszáf spokesman István Binder said."

Source: Hungary Around the Clock.

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