Romania’s National Consumer Protection Authority - ANPC has won a class action against local lender OTP Bank, in which the bank’s customers claimed unfair terms in two type of loan contracts.

The lawsuit was initiated by ANPC on behalf of five of the bank’s customers, reports local Agerpres.

The decision is not final, but if another court rules a final decision deeming the terms are unfair, they will be removed from all of the bank’s similar contracts, in Romanian currency lei, Swiss franc or euro, according to ANPC.

One of the controversial terms included in the contracts allows the bank to periodically revise the interest rate in accordance with its policy, for personal loans guaranteed by mortgages and mortgage loans, without notifying the customer.

Comment: The Swiss franc, the bank and the Romanian customer

editor@romania-insider.com