Legal tip 500. More than 120 Court decissions against Banks´nonsenses in Spain
Wednesday, April 13, 2011 @ 7:01 PM
There are already more than 120 Court decissions in Spain against swaps ( financial products who were supposed to protect your mortgage interest rate if risen) and who were finally no protective at all.
Court decission which prohibitted BBVA, Caixa Galicia and Cajamar to apply the floor clauses is now enforceable. So if the euribor gets lower than their floors, the good low euribor is applied!
It seems that there is Justice around....and that Court Decissions against abuses of finantial institutions are blooming this springtime!
Cheers!
Maria
Balcony with floers in Oviedo, Spain by Martius at Flickr.com