Several hundred clients of Volksbank met on Tuesday evening tolaunch a class action against the bank, asking for the eliminationof some contract fees and clauses. BCR clients are also preparing ameeting, this evening.
Over 900 clients having contracts underway with Volksbank, thethird biggest bank domestically in terms of assets, are gettingready to launch a class action against the bank, through which theywill ask for the elimination from the lending contract of a "risk"fee, which they view as unjustified.
The conflict between clients and banks, a subdued one so far, seemsto become an open one as people, marked by falling incomes andrising taxes, are feeling banks are not doing anything to help thembut, on the contrary, they are trying to protect their profits bylevying high interests and fees.
The recent Ordinance 50/2010, forcing banks to set transparentinterest calculation formulas and cutting the number of fees thatcan be levied, has spurred clients' efforts.
On the other side, Volksbank representatives say they prefer a caseby case approach.
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