Consumers: Fee judgment: Bafin demands fast implementation from banks

consumer
Fees judgment: Bafin demands fast implementation from banks

Bafin relies on transparency for bank customers. Photo: Boris Roessler / dpa

© dpa-infocom GmbH

The Federal Financial Supervisory Authority (BaFin) has asked banks to treat their customers quickly and fairly when it comes to account fees. There was a BGH ruling on this in April.

The financial supervisory authority Bafin has asked banks to implement a Karlsruhe ruling to increase account fees quickly and fairly.

The Bonn authority announced on Tuesday that customers would have to be informed in an understandable manner about the consequences of the ruling and wrongly charged fees would have to be reimbursed.

In addition, the institutes would have to set up provisions. The judgment of the Federal Court of Justice affects almost every bank customer relationship, said Bafin boss Mark Branson. “Fast, unbureaucratic, transparent implementation is all the more important.”

The BGH ruled at the end of April that banks must obtain the consent of their customers for changes to general terms and conditions. Financial institutions now have to subsequently ask for approval of the current fees. In addition, bank customers can reclaim fees that institutes have charged without explicit consent – according to Stiftung Warentest, retrospectively until January 1, 2018.

dpa

source site