The Independent Authority for Market Control and Consumer Protection has imposed an administrative fine of 140,000 euros on Bank of Epirus SA, following an ex officio inspection.
As stated in an announcement, during the audit it was found the existence of a term in mortgage loan contracts that is deemed abusive, as it provides for additional charges without sufficient justification and transparency to the consumer in violation of the provisions of Law No. 2251/1994 and the relevant ministerial decision Y.A. 798/2008.
The Authority notes that a relevant ex-officio investigation is in progress for other credit institutions as well.
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“The rules are clear and apply to everyone – consumer protection is non-negotiable,” the statement stressed, adding that there is no tolerance for abusive banking charges.
