Erste Bank Hungary acknowledges PSzÁF penalty
Erste Bank Hungary on Friday acknowledged a 3 million fine by market regulator PSzÁF and said it had taken measures to prevent similar mistakes from happening in future. State secretary of the Prime Minister's Office János Lázár told MTI on Thursday that PSzÁF had fined Erste Bank Hungary for trying to bully the local council of Hódmezővásárhely into accepting unfavorable changes to account management conditions. Erste Bank took steps that were “inappropriate, unfair and in violation of the law” with the aim of getting the local council to accept unfavorable changes to the way the bank manages its account, Lázár said. Lázár was earlier the mayor of Hodmezővásárhely.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.