Legal tip 570. On Banks and information
Wednesday, August 10, 2011 @ 11:57 AM
A new Decree is being prepared by the Government by which Banks need to offer specific and clear information about their services: including mortgage loans, commissions, interests…
Banks will have to periodically offer information on interests applied on financial services, both in credits and deposits, according to a draft model designed by Bank of Spain.
Banks will charge just for those services that are expressly and firmly requested or accepted by the client.
Expenses will have to be specified both in periodicity and exact amount.
Publicity is also regulated. It will have to be objective; bringing precise information on what it is being publicized.
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