January 15, 2018 / 11:41 AM / 2 years ago

BRIEF-UOKiK Imposes 20.7 Mln Zloty Fine On Bank Millenium

Jan 15 (Reuters) - BANK MILLENNIUM SA

* OFFICE FOR COMPETITION AND CONSUMER PROTECTION (UOKIK) IMPOSES A 20.7 MILLION ZLOTY FINE ON BANK MILLENNIUM (BANK), UOKIK SAYS IN A STATEMENT

* THE REGULATOR SAID THAT BANK MISLED CLIENTS PROVIDING THEM WITH INCORRECT INFORMATION REGARDING FORBIDDEN CLAUSES IN THEIR CONTRACTS

* WHEN CLIENTS ASKED ABOUT CLAUSES IN THEIR CONTRACTS, WHICH GOT FORBIDDEN BY THE COURT OF COMPETITION AND CONSUMER PROTECTION (SOKIK), THE BANK WAS REPLYING THAT THE FACT THAT THE CLAUSES WERE FORBIDDEN DID NOT MAKE ANY DIFFERENCE IN THEIR SITUATION, UOKIK SAYS AND ADDS THAT IT COULD DISCOURAGE CLIENTS FROM PURSUING THEIR CLAIMS

* BANK CAN APPEAL AGAINST THE UOKIK DECISION

* UOKIK INITIATED PROCEEDINGS AGAINST BANK MILLENIUM IN OCT. 2016

Source text: bit.ly/2B0buKh

Further company coverage: (Gdynia Newsroom)

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