ADVERTISEMENT

UPDATE - PSzÁF files civil suit against CIB for limiting liability for bank cards

Analysis

Hungarian financial market regulator PSzÁF on Monday said it filed a civil suit against CIB Bank for limiting its liability for retail bank cards.

CIB Bank set its maximum liability for client damages resulting from stolen bank cards at the bank's basic retail daily limit. Clients with higher daily limits were not covered for damages exceeding the basic daily limit.

PSzÁF said the practice is unlawful.

CIB Bank told MTI it had not been officially informed of the suit.

ADVERTISEMENT

3,274 new COVID cases registered over past 3 days Figures

3,274 new COVID cases registered over past 3 days

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

FAO–Food Bank convoy delivers food to those in need City

FAO–Food Bank convoy delivers food to those in need

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.