– Special bank for doctors and pharmacists agrees ineffective interest cap clause – Numerous bank customers pay overdraft interest on their current account for years because their credit institution charges them too much interest on their loans. Legal and calculation errors occur en masse at some institutions – and occasionally lead to the bank […]
– Employees and customers are still surprised by international arrest warrants – Insurers’ and banks’ agreement with judiciary does not prevent prosecution of employees Although some banks, as well as insurers, have settled their dispute with the US judiciary by pleading guilty to criminal charges, the individual employees involved remain under investigation. No employee […]
Banking law: errors in advice, credit traps and more As a lawyer for banking law, I know that a bank has been part of our daily life since our earliest childhood. Just remember your first savings book, which you probably got at primary school from the nice savings bank advisor next door. We withdraw money, […]
When selling, advising or brokering certificates and derivatives, special information is required to avoid liability towards investors. Credit institutions sold “guarantee” certificates and similar constructs to bank customers, for example the Lehman Brothers Bank, as a safe investment: numerous liability traps await bank and savings bank advisors. I. Consultant incompetence and conditions trap Certificates […]
Life insurance as a bet on lower surpluses or insolvency. Even if the banks are rescued by the state, the life insurers may have to pay for it with their own insolvency. At the very least, however, there is a threat of a reduction in surpluses and thus a lower pension provision for privately insured […]
“Trap salesmen” in credit institutions cause total losses with marketing slogans Renowned credit institutions sold “guarantee” certificates and similar constructs, for example those of the Lehman Brothers Bank, to gullible bank customers as a safe investment: bank and savings bank advisors are thus often liable for reversals today. Consultant Incompetence Trap The consultants […]
– A “simultaneous” activity as agent and insurance broker is no longer permitted by law since 22.05.2007 -. In the case of a valve solution in insurance distribution, a credit institution acts as (multiple) agent as agreed with one or more insurers. If the customer’s needs cannot be met through this (these) product provider(s), […]
By Johannes Fiala* With interest rates down, many property owners and business owners want to reschedule to get cheaper financing: Debt restructuring at no cost and no compensation, plus money back from the bank. This is also the dream of many an investor whose capital investments have for years failed to yield what was promised […]
By Johannes Fiala* Property owners, landlords, entrepreneurs and investors have been complaining for years about falling surpluses or profits due to excessively high bank interest rates. But this does not have to be: Because the more than 3% interest rate reduction of the ECB since 2000, the credit institution must often pass on to the […]
RA Johannes Fiala With interest rates down, many property owners and business owners want to reschedule to get cheaper financing: Debt restructuring at no cost and no compensation, plus money back from the bank. This is also the dream of many an investor whose capital investments have for years failed to yield what was promised […]
