Four banks in Poland fined 150 million zlotys — RMF24

In Poland, the Office of Competition and Consumer Protection (UOKiK) has fined Bank Pocztowy, Erste Bank Polska, ING Bank Śląski and Plus Bank a total of 150 million zlotys. As RMF24 reports, the regulator questioned contractual provisions that allowed banks to unilaterally change the terms of agreements and increase or introduce commissions and fees.

Which services the claims concern

The disputed provisions were used, among other things, in agreements for maintaining bank accounts, using payment and credit cards, as well as in loan and credit agreements, including mortgage agreements.

Each of the four banks received two fines: one for provisions on changing the terms of the agreement and another for rules concerning commissions and fees.

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Increases of up to 200%

UOKiK cited an example of one of the challenged provisions that allowed commissions and fees to be increased by up to 200%. This could occur, among other things, after inflation rose by 0.30 percentage points or average wages increased by 1%.

According to the regulator, such minor changes in indicators are not sufficient grounds for unilaterally changing an agreement with a consumer. UOKiK noted that this mechanism allowed a bank to increase payments almost every month. The regulator's decisions are not final, and the banks may appeal them in court.