The financial body confirms FACUA's opinion on the responsibilities of the autonomous communities

Spain's Central Bank grants permission to Consumer Protection authorities to sanction banks with base lending rates

The Complaints Service of the financial body says that "it cannot comment" on the possible unfairness of these terms and states that the responsibility lies with the Consumer Protection authorities and the Court.

FACUA.org
España-08/04/2013

Spain’s Central Bank has warned that, when base lending rates are unfair, Consumer Protection authorities may take legal action and sanction the banks. This financial body supports, with this statement, FACUA-Consumers in Action’s opinion about the competence of Consumer Protection bodies.

In response to a formal complaint filed by FACUA, Fernando Tejada, Claims Department Chief for Spain’s Central Bank (Banco de España), states that he «cannot comment» on the possible unfairness of these terms as the matter is out of the body’s authority.

In this regard, it states that «the attribution and qualification of unfairness of a contractual term which is within the domain of consumer legislation, under the provisions of the regula

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