Hungarian Bill Bans Banks From Raising Fees
- 15 Sep 2014 9:00 AM
Fidesz has submitted a bill to Parliament that will ban banks from unilaterally raising interest rates, costs or fees, caucus leader Antal Rogán told reporters on Friday after the party MPs held their season-opening meeting in Tapolca.
The bill also orders banks to start compensating borrowers including those who have repaid foreign-currency loans for gains made on exchange-rate margins and unilateral fee increases by March 1, 2015.
The bill stipulates that 400 financial institutions will have to account for all 680,000 foreign-currency and 651,000 forint loans, affecting a total of 1.3 million households.
Rogán said Parliament could vote on the bill on September 24.
Source: Hungary Around the Clock
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