Consumer protection authority fines Bancpost RON 150,000 for unfair practices

The National Authority for Consumer Protection (ANPC) fined Bancpost with RON 150,000 and accused the back for unfair commercial practices.

According to the body, consumers’ interests have been affected. Moreover, the Dutch company EFG New Europe Funding II B.V. towards which Bancpost transferred a portfolio of credits, does not hold an authorisation.

By doing so, the ANPC applied the measure of restitution of amounts received for the entire portfolio of credits transferred towards Bancpost, representing interests and penalties retained between 11 July 2008 – 27 March 2018, when the transferee was EFG New Europe Funding II B.V. (currently known as ERB New Europe Funding II B.V.).

The checks targeted issues connected to the transfer of credits from Bancpost S.A. to EFG New Europe Funding II B.V. (the ERB New Europe Funding II B.V.) being an unauthorised company, the ANPC said in a statement.

According to the ANPC, “given that the transferee is a non banking institution, an authorized credit institution, the calculated and retained interest rate had to be zero for the entire period of the divestiture 11 July 2008-27 March 2018.”