MNB fines Szendrő Savings Cooperative HUF 1.2 mln

Initiatives

The National Bank of Hungary (MNB) has fined Szendrő Savings Cooperative for HUF 1.2 mln for breaching regulations related to the contractual rights of consumers and general terms of service, and for failing to provide information in a prompt manner, the central bank announced today.

The bank’s statement added that it had found 13 violations, 11 of which had been ongoing for an extended period of time. The MNB ordered the savings cooperative to correct the breaches by November 30.

ADVERTISEMENT

26,000 Fewer Hungarians Registered in Hargita County Last Ye... Figures

26,000 Fewer Hungarians Registered in Hargita County Last Ye...

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021 Government

Gov't Guarantees on Liabilities Climb Over 9% of GDP in 2021

Corvex Winds up Virtual Bank Card Project Fintech

Corvex Winds up Virtual Bank Card Project

AmCham Super Bowl LVII Watch Party Coming This Month Social

AmCham Super Bowl LVII Watch Party Coming This Month

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.