In the wake of implemented supervisory measures, financial institutions have refunded approximately 22 million euros to bank customers due to improperly charged fees and interest, the central bank announced in its Behavioral Supervision Report for the past year, released today.
This amount comprises two categories of improper charges: the wrongful imposition of interest, amounting to 18.5 million euros, and unfairly charged fees, which are either prohibited or limited by law, totaling 3.5 million euros.
A significant portion stemmed from the inclusion of a clause mandating the undeserved loss of interest rate discounts—the ‘spread’—in credit contracts upon default. The unnamed institution was required to return 15.5 million euros to customers wrongly charged due to increased ‘spread’ rates over more than a year.
Excluding this 15.5 million euros, institutions reimbursed 6.49 million euros, which remains below the 8.3 million euros refunded in 2023.
