Variable loan interest rate – bank overcharges by around a quarter of a million

– 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 […]

Interest fraud with system

How banks and credit institutions earn money with incorrect interest calculations We Germans are known beyond our national borders for our preference for cash and savings books. In a European comparison, we are the undisputed number one with a savings rate of approx. 17 %. Our confidence in saving seems to be unshakable and despite […]

Lawyer warns against occupational pension liability cases due to mini interest

In a letter dated 28 September 2017, the Federal Ministry of Finance (BMF) dealt with the future treatment of incorrectly designed contracts for occupational pension schemes (bAV). According to this, special payments by the employer in the event of calculation errors by the occupational pension scheme provider are liable to pay wage tax for employees. […]

Repay fixed-interest loans early

When selling real estate, the bank loans are usually repaid by the seller so that the property can be transferred unencumbered in the land register – with the existing encumbrances, the property would normally be unsaleable. The repayment of the loans is seen – merely – as a precondition for the bank to release the […]

Early repayment of fixed-interest loans is often not permitted when selling real estate

Why there is often no justified interest in premature termination of the contract   When selling real estate, the bank loans are usually repaid by the seller so that the property can be transferred unencumbered in the land register – with the existing encumbrances, the property would normally be unsaleable. The repayment of the loans […]

New BGH ruling on the obligation of life insurers to provide information on surplus calculation

– When a right to information does not exist, and no right to accounting – If a policyholder assumes that he/she is entitled to a higher valuation reserve on expiry of a capital-forming life insurance policy than that paid out by the insurer, he/she may have a claim for information against the insurer. The Federal […]

What effects does the current low-interest phase have on the liability situation of intermediaries and advisors?

From the series of newsletters of the DHBW (Baden-Wuerttemberg Cooperative State University) Heidenheim on the topic “Mediation Law in Practice”: At this point, lawyer Dr. Johannes Fiala, https://www.fiala.de, lecturer for insurance law at the DHBW Heidenheim, will answer your questions, Your questions. Questions can be asked by emailing ott@dhbw-heidenheim.de.   Neither in the case of […]

Reduction of surplus in case of advertising with inflated example calculation inadmissible

– More than EUR 50 billion in additional claims possible for reduced maturity benefits – – Around 20 million affected with an average additional claim of up to more than EUR 10,000 per contract. Low interest rates destroy investment hopes for endowment life insurance policies For almost 10 years now, all investors in life insurance […]

Quo vadis guaranteed interest rate?

Why brokers have to pay attention to investment performance is explained by lawyer Johannes Fiala and private health insurance expert Peter A. Schramm in the series on frequent or typical consulting errors in the brokerage of private health insurance. To the point � Unlike in life insurance, the maximum actuarial interest rate in private health […]

Life insurance: calculation of surrender value

debts life insurance policies New billing and additional payment The BGH judgements of 12.10.2005 (Az. IV ZR 162/03, 177/03, 245/03) and the Constitutional Court with its decision of 26.07.2005 (file no. 1 BvR 80/95) massively influence the contracts of the Life insurers and the Billing practice for an existing Life Insurance. The BGH is in […]