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Poland imposed fine of almost $1,335,684 for Deutsche Bank Polska

Christian Fernsby |
The President of UOKiK questioned the manner in which Deutsche Bank Polska has been charging fees for the issuance of credit related statements in particular the ones concerning the repayment record, which related the amount of the fees due to the period covered by the statement.

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This fee would have increased with each subsequent year requested by the consumer, resulting in very high costs for borrowers, especially in the case of mortgages that have been repaid for many years.

For example, as regards a credit facility granted in 2004, the fee for the repayment record for a 15 year period calculated on the basis of the mechanism contested in the decision was PLN 1600.

On many occasions, the consumer would need several certificates and/or statements from the bank, which significantly increased the costs due.

UOKiK has also received complaints about the high fees that banks charge on this account, especially in the case of mortgage loans in Swiss francs.

This fee could have amounted to as much as PLN 2 thousand per single statement.

The statements relating to, inter alia, the debt repayment record or accrued interest are required by those who intend to seek, for example, the annulment of the agreement or the reimbursement of unduly charged instalments in court.

On their basis it is possible to determine the amount claimed from the bank.

The President of the Office examined the templates of contracts that provide for such fees and issued a first decision in this case against Deutsche Bank Polska.

The fine imposed on this bank amounted to almost PLN 5 million ($1,335,684).

President of UOKiK Tomasz Chróstny recognised that the provisions applied by Deutsche Bank Polska are abusive clauses and prohibited the use thereof.

He charged the bank with a financial fine of almost PLN 5 million (PLN 4 913 850).

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