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PSzÁF fines AXA for failing to meet request to close account on time

Hungarian financial market regulator PSzÁF has said it fined the Hungarian branch of AXA Bank HUF 1 million for failing to fulfill a request to close a client's account within the prescribed period of time.

The branch did not inform the client that it required special authorization to close the account, PSzÁF said.

PSzÁF took into account as a mitigating factor the branch's steps to clarify the information on closing accounts that it provides clients. (MTI – Econews)