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MNB fines auto finance companies HUF 37 mln

Telco

The National Bank of Hungary (MNB)  fined eight car finance companies more than HUF 37 mln for unlawfully charging customers the vehicles' comprehensive insurance premium - the amount of which was fixed in forints - in foreign currency, in the form of interest rate spread, MNB announced today.

The MNB has fined Lombard Lízing HUF 20 mln, Budapest Autófinanszírozási and Erste Bank HUF 5 mln each, Santander Consumer Finance Pénzügyi Vállalkozás and UniCredit Leasing Hungary Pénzügyi Szolgáltató and Raiffeisen Lízing HUF 2 mln each, RCI Lízing es Autófinanszírozási HUF 1 mln and Mercedes-Benz Credit Pénzügyi Szolgáltató HUF 150,000.

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