According to a recently released statement, the bank said it had consistently met legal requirements on informing customers about exchange rate risk, a position upheld in thousands of court cases involving Erste.
The Curia’s Uniformity of Law Complaints Board issued a decision interpreting the EU Court’s judgment in Case C-630/23, which addressed foreign currency-based loan and leasing contracts.
The board stated that if a contract is found entirely invalid due to an unfair exchange rate clause, it should not be validated unless the consumer explicitly requests so—after being properly informed.
The decision also nullifies the binding effect of certain earlier Curia rulings.
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