PSZÁF wins court case against AXA Bank

Issues

Hungarian financial market regulator PSZÁF on Thursday said it won a court case against the Hungarian branch of AXA Bank.

The case, brought by PSZÁF in the public interest, concerned AXA Bank branch's earlier practice of excluding itself from liability for damages incurred by clients after their bank cards had been put on hold.

The Budapest Municipal Court said in a first-instance ruling that liability may be excluded only if certain conditions are met when the card is put on hold.

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