Lenders Contest NBH Fines For Raising Client Fees In Hungary

  • 7 May 2014 9:00 AM
Lenders Contest NBH Fines For Raising Client Fees In Hungary
Nine Hungarian lenders, among them Raiffeisen, Erste and FHB, are contesting fines by the National Bank of Hungary levied for illegally raising client fees, business daily Napi Gazdaság says.

DRB South Transdanubia Regional Bank, Raiffeisen Bank, Erste Bank Hungary, Szabolcs Savings Cooperative, Hévíz and Environs Savings Cooperative, FHB Commercial Bank, Tisza Savings Cooperative, Mohacsi Savings Bank and Fontana Credit Savings Cooperative have turned to the courts on the matter, the paper said.

The NBH, in its role as financial market regulator, announced in March that it fined 35 banks a combined 1.2 billion forints for illegally raising fees and ordered them to pay clients refunds.

At the time, NBH deputy governor László Windisch said several hundred thousand clients could get a combined 10 billion forints in refunds from 33 of the banks, according to estimates.

Source www.hungarymatters.hu

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