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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Raiffeisen Romania challenges EUR 20,000 fine and apparently EUR 10 mln claim

The Romanian subsidiary of Austrian group Raiffeisen, Raiffeisen Romania, referred to the court a ruling issued by the national consumer protection authority ANPC on September 5, establishing an incorrect commercial practice of the bank and setting a RON 100,000 (EUR 20,000) fine.

Profit.ro reporting on the case implies that Raiffeisen Romania objects not only against the EUR 20,000 fine - but also against the EUR 10 mln it owes to customers, subject to the illegal practices.

At the time the ruling was issued on September 5, the Austrian bank claimed that the sums collected in excess are going to be returned to customers - but the process takes a bit longer since it is carried out manually.

Under the same ruling, ANPC proposed the bank terminate such activities and return the money illegally collected from its customers as a result of such practices within 15 days.

The money to be returned to some 14,000 customers subject to the illegal practices is estimated by ANPC representatives, quoted by Agerpres, at up to EUR 10 mln.

The illegal practice, which consisted in upping the interest rate margin on the occasion of loan restructuring, took place in 2014 and was declared by ANPC as violating the regulations in the same year.

Later in 2020, the court endorsed the ANPC’s findings meaning that Raiffeisen Romania was supposed to return the money collected illegally.

(Photo: Zerbor | Dreamstime.com)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Raiffeisen Romania challenges EUR 20,000 fine and apparently EUR 10 mln claim

The Romanian subsidiary of Austrian group Raiffeisen, Raiffeisen Romania, referred to the court a ruling issued by the national consumer protection authority ANPC on September 5, establishing an incorrect commercial practice of the bank and setting a RON 100,000 (EUR 20,000) fine.

Profit.ro reporting on the case implies that Raiffeisen Romania objects not only against the EUR 20,000 fine - but also against the EUR 10 mln it owes to customers, subject to the illegal practices.

At the time the ruling was issued on September 5, the Austrian bank claimed that the sums collected in excess are going to be returned to customers - but the process takes a bit longer since it is carried out manually.

Under the same ruling, ANPC proposed the bank terminate such activities and return the money illegally collected from its customers as a result of such practices within 15 days.

The money to be returned to some 14,000 customers subject to the illegal practices is estimated by ANPC representatives, quoted by Agerpres, at up to EUR 10 mln.

The illegal practice, which consisted in upping the interest rate margin on the occasion of loan restructuring, took place in 2014 and was declared by ANPC as violating the regulations in the same year.

Later in 2020, the court endorsed the ANPC’s findings meaning that Raiffeisen Romania was supposed to return the money collected illegally.

(Photo: Zerbor | Dreamstime.com)

andrei@romania-insider.com

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