Hungary 's Financial Supervisor Orders AXA To Refund Clients

  • 18 Sep 2012 9:00 AM
Hungary 's Financial Supervisor Orders AXA To Refund Clients
The financial supervisory Pszáf has fined AXA Ft 5 million and ordered the bank to repay nearly Ft 44 million to 380 clients, after ruling that AXA illegally collected a fee on early mortgage repayments. AXA has already started to repay the money.

The Pszáf based its investigation on reports from clients and examined the period starting on December 13, 2010.

Clients were asked to pay a 3-4% fee on early repayments even when regulations stipulated a lower fee or no charge.

Source: Hungary Around the Clock

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