Bank settlement – clients of six financial institutions to receive foreign currency loan information later

Due to the protracted bank lawsuits, customers of six financial institutions may receive settlement later than the April 30 deadline, read the website of the National Bank of Hungary.

The deadline for posting is postponed to the first days of May

Which has one of the largest customer base, the deadline for posting is postponed to the first days of May.
According to the information, the financial institution is required to send the settlement within 60 days of the completion of the civil litigation.

Financial institutions should inform consumers about the current status of litigation, its outcome and the deadline for submitting the settlement notice on their websites and branches.

Notices may differ from institution to institution

Within 15 days of the date of dispatch of the last settlement notice, the financial institution shall publish on its website or at its branch offices that the settlement is complete.

Within 60 days of the publication of this information, consumers who have not received a settlement and who, in their view, would be entitled to complain to their financial institution have the opportunity to complain. In all other cases, the deadline for complaints is 30 days from the date of receipt of the settlement, the MNB reminded.

To ensure full implementation of the settlement

The Central Bank has been conducting an in-depth inquiry into all relevant financial institutions since February, paying particular attention to the adequacy of consumer information and, if any shortcomings are identified, to take immediate action to eliminate them.
To date, the MNB has issued warnings in 146 cases and prompt actions in 8 cases due to information irregularities. Most of the shortcomings were related to the design of clearing letters, information on websites and the content of consumer quality letters read the website of the National Bank of Hungary.

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