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.

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