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Poland: Antitrust authorities scrutinize oppressive mortgage interest rates

By  |  January 27, 2015

Commercial banks in Poland fell under detailed scrutiny of Polish antitrust authorities after some financial servicers refused to cut interest rates on mortgage loans offered in Swiss francs, despite the currency’s rapid appreciation.

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    Seeking to ease the burden on borrowers hit by the franc’s strength, last week the Polish Antitrust Authority decided to launch a probe to determine whether the banks’ refusal to cut rates and demand additional security violated consumer protection laws.

    For the time being, the Polish antitrust authority is carrying out an investigation in the case.

    If any potential irregularities are found, proceedings against specific entities for infringement of the collective consumer interests will be initiated.

    Full Content: Bloomberg

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