All fines barely exceed 2 million Euros in total
FACUA Andalucia considers ridiculous regional Government's fines to the banks with unfair terms to their clients
The low level of the latest sanctions imposed by the General Secretariat of Consumer Affairs to 30 financial institutions lack the necessary deterrent effect.
FACUA.org
Andalucía-09/06/2014
FACUA Andalucia reiterates its disagreement over the low level of sanctions imposed by the Andalusian Government to banks with unfair terms in their contracts. On this occasion, the total amount barely exceeds two million Euros, a quantity which is considered absolutely insufficient to achieve the expected dissuasive effect, given that such these meagre economic penalties do not take into account the extent of damage these banks cause, considering the fines are much smaller than the profits they make at the expense of contractual abuse perpetrated against their clients.
Additionally, FACUA requests the Administration to release the names of sanctioned banks, in order to let users exercise their right to complain.
On June 5, the regional Ministry announced its decision rela
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