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Former mayor says PSzÁF fined Erste for strong-arming local council

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Hungarian financial market regulator PSzÁF has fined Erste Bank HUF 3 million for trying to bully the local council of Hódmezővásárhely into accepting unfavorable changes to account management conditions, state secretary of the Prime Minister's Office János Lázár told MTI on Thursday. 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 Hódmezővásárhely.

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