Takarékbank fined for violations
The National Bank of Hungary (MNB) on Tuesday said it fined Takarékbank HUF 23 million for violating central bank and government decrees on retail accounts, according to a report by state news wire MTI.
The central bank and financial market watchdog established that the lender broke rules on informing retail clients of account fees and access to no-frills accounts. Takareékbank also failed to comply with requirements on contract content and accessibility to the country's instant payment system.
Takarékbank has until the end of July 2022, to remedy the problems.
ADVERTISEMENT
MNB Keeps 0.5% Capital Buffer Activation Date
Ukraine Suspends OTP Status on 'Sponsors of War' List
ÖBB Detaches Hungarian Direct Trains Due to Delays
Pálinka Added to EU-Japan Geographical Indication Deal
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.
