The association advise consumers to use this resolution for claims
FACUA labels the fine imposed by the CNMV on bank firm Banco Pastor as ridiculous
The organisation considers the penalty payment of 400,000 euros loose change for an entity that saw profits of 164.1 millions of euros in the year it committed the offence.
FACUA.org
España-23/09/2013
FACUA-Consumers in Action has labelled the 400,000 euro fine imposed by the National Stock Exchange Commission (CNMV) upon the bank Banco Pastor for its marketing of «certain financial products» between January and September of 2008 as ridiculous.
The organisation considers the penalty sum loose change for an entity which, now integrated within the Banco Popular, gained profits of 164.1 millions of euros in 2008, the year it committed the offence.
FACUA addresses the need to revise a penalty system that is patently inadequate, a system that doesn’t deter infringements, categorised as «extremely serious», with derisory fines that leave the offenders at a profit.
In fact, FACUA questions exactly where the exact figure of 400,000 euros came fro
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