Unfair Mortgage Practices at Bank of Cyprus Earn Fine

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Unfair Mortgage Practices at Bank of Cyprus...
 © CyprusNewsReport 2017
The Consumer Protection Service has fined Bank of Cyprus 170,000 Euros for tricky and unfair mortgage practices and other infringements of consumer rights. The bank was investigated by the agency on its own initiative, it said in a statement.

It was ordered to cease and desist the practices. The problems included: Using evasive or unclear contracts allowing the bank to unilaterally change the interest rate and charges borne by the consumer. Imposing charges and other costs without presenting...


Unfair Mortgage Practices at Bank of Cyprus Earn Fine


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