Hungary’s Erste said it is seeking a court review of a recent fine imposed on several banks for their alleged participation in a foreign currency cartel as it continues to deny the charges.
Erste, along with 10 other banks, was fined by antitrust regulator GVH for forming a cartel in a repayment scheme affecting foreign currency mortgage holders, reports say.
Erste denies allegations that it aligned operations with the other banks or shared market sensitive information.
A statement released by the bank last Friday slammed the competition regulator’s ruling as “unfounded.”
Full Content: Reuters
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