And BRD obtained in court the suspension of the order of the National Authority for Consumer Protection (ANPC) by which the bank was sanctioned for misleading commercial practices regarding the method of calculating rates. The decision was taken on Friday by the Bucharest Court of Appeal.
Horia Constantinescu, ANPC presidentPhoto: AGERPRES
According to the decision published on the courts’ portal, the Bucharest Court of Appeal admitted BRD’s request and ordered the suspension of the execution of the ANPC’s order until the ruling of the substantive court.
The decision is not final, it can be appealed at the Bucharest Court of Appeal, but it is enforceable.
It is the second such decision in the ANPC’s war with the banks.
A week ago, the National Authority for Consumer Protection lost to Banca Transilvania at the Cluj Court of Appeal. And then, the court admitted the bank’s request to suspend the order issued by the president of ANPC until the ruling of the substantive court.
We remind you that ANPC sanctioned the banks for what it called “misleading commercial practices regarding the calculation of rates”, on the grounds that on the repayment schedule the rate was composed in the first years of 25% of the principal balance to be repaid and 75% interest.
He gave fines twice. The first time, it targeted 11 banks: ING Bank, First Bank, Credite Europe Bank, OTP Bank, Alpha Bank, Banca Transilvania, Raiffeisen Bank, BCR, Patria Bank, Unicredit Bank, BRD Groupe Societe Generale. They were fined 550,000 lei, and “in order to restore the contractual balance” it was proposed to issue new repayment schedules.
Subsequently, ANPC fined eight other banks with 400,000 lei: Exim Bank, Procredit Bank, Intesa Sanpaolo, Techventures Bank (formerly Banca Comercială Feroviara), Libra Bank, CEC Bank, Garanti Bank and Vista Bank.
11 banks sanctioned by ANPC for misleading commercial practices regarding the calculation of rates / Accusations of “cartel attitude”
ANPC sanctioned eight other Romanian banks / Among them the two State banks: Eximbank and CEC Bank