[ad_1]
The fine was imposed by decision of the Board of Directors of the Bank of Lithuania after a specific inspection by the Financial Market Supervisory Authority, during which the selected credit agreements were inspected.
It has been established that the Lithuanian branch of Luminor Bank AS has been operating since 2017 due to a technical error. July 1 to 2020 January 30, 89 clients were subject to higher penalties (0.2%) than those provided in the Real Estate Credit Law (0.05%), and in doing so violated the requirements of this law.
The bank acknowledged the violation due to the penalties, stopped the offending activities during the inspection, corrected the identified violation, and compensated 89 customers, so no penalty was applied for this violation.
In addition, the bank since 2019. July 1 to December 31. it did not always act in accordance with the law in cases where consumers terminated credit agreements due to improper performance or breach of obligations.
In the cases of termination of credit contracts, the bank did not provide evidence of its cooperation with the borrowers and used all the objectively possible possibilities, proposing possible measures to comply with the obligations established in the credit contract.
Luminor Bank A / S has yet to be penalized for violations of the law and regulations related to real estate credit.
Communications Director of Luminor Indrė Baltrušaitienė 15 minutes He said that the bank accepts the comments of the Bank of Lithuania and has made the necessary changes to ensure that this improper practice is not repeated.
“Due to a technical error, the interest of 89 clients was incorrectly calculated. Following correction of the error, the clients were reimbursed the full amount of the incorrectly calculated default interest of € 772. In the meantime, the procedure to terminate the contracts Credit was agreed on June 29 this year, taking into account the comments of the Bank of Lithuania.
Luminor has always sought to reach an agreement with clients if the latter find it difficult to meet their obligations, resulting in the restructuring of many more credit agreements than in termination. For example, this year 73 credit agreements were terminated and 1,793 were restructured.
We have just received the decision of the Bank of Lithuania, we will examine it carefully ”, he assured.
[ad_2]
