ANPC lost in the Court of Appeal of Cluj against Banca Transilvania in connection with the fine imposed for the calculation of installments.
The court granted the suspension request filed by Banca Transilvania against the National Authority for Consumer Protection (ANPC) and the President of the ANPC.
Thus, he ordered to suspend the effect of the order (No. 424 dated 23.05.2023), issued by the president of the ANPK, pending the decision of the court of first instance.
It will be recalled that the ANPC sanctioned the banks for what it called “deceptive commercial practices in calculating rates” on the basis that the repayment schedule had the rate in the early years at 25% of the principal balance to be repaid. and 75% interest.
Fined twice. The first time they got into 11 banks, and the second time – the rest, including state ones.
Read also:
11 banks were sanctioned by ANPC for deceptive commercial practices regarding the calculation of rates / Accusations of “cartel behavior”
ANPC imposed sanctions on eight other Romanian banks / Among them are two state-owned banks: Eximbank and CEC Bank
Seven reasons why ANPC fine on banks is a ‘defect’
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.