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 […]

No claims settlement through insurance brokers

In the view of VDVM, a current ruling by the BGH will have far-reaching consequences for insurance brokers. Even though it will still be some time before the reasons for the judgement are given, it is becoming apparent that the Federal Court of Justice considers the settlement of claims by insurance brokers to be a […]

New settlement yes, additional payment probably no

With its recent rulings, the Federal Court of Justice (BGH) has stipulated the introduction of minimum surrender values in the event of termination of endowment life insurance policies (VersicherungsJournal 13.10.2005). However, the judges were under a misapprehension about the calculation of the surrender value, say insurance experts Peter Schramm and lawyer Johannes Fiala. The Federal […]

Commentary on the settlement of the BVAG insurance: Brokers are threatened with liability claims

BVAG Versicherung is insolvent. In a guest article for FONDS professionell ONLINE, lawyer Dr. Johannes Fiala and actuary Peter A. Schramm state that brokers who brokered BVAG policies for their clients may now be held liable under certain circumstances.   Net loss for the year 6.3 million euros Back in May 2013, the trade press […]

BWF settlement: intermediaries may lose authorisation

The public prosecutor’s office is currently investigating the Berlin BWF Foundation for possible fraud. In a guest article for FONDS professionell ONLINE, Johannes Fiala and Peter A. Schramm explain that this case could also have consequences for brokers.   Financial investment advisors who have brokered products of the “Bund Deutscher Treuhandstiftungen” could lose their IHK […]

Banks owe interest refunds to investors and property owners

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 […]

The bank client often has a right to pass on interest rate reductions in line with developments on the capital market.

RA Johannes Fiala Interest rate reservation: Both decisions deal with the interest rate of loans with variable interest rates, for example with the bank clause in the loan agreement ‘The bank is entitled to change the interest rate if it deems this necessary (…)’. The lawyer calls this an ?interest reservation?, thus a discretion of […]

Interest reimbursement to investors – banks owe billions

Get your annual profits back from the bank: Because the more than 3% interest rate reduction by the ECB since 2000 must be passed on to you by the credit institution! The Investment: It all started quite simply for investor Heinrich Müller (name changed): His banker granted him credit and arranged an interesting project as […]

Lawyer for banking law in Munich

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, […]

Company reorganization through credit and account verification

Verification of the expense and interest statements of credit institutions   The account termination Entrepreneur Joachim Müller (name changed), gets into economic distress when his bank terminates the business relationship by giving notice and makes all loans (about EUR 500,000) due. Müller does not give up. He gets a tip from his financial services provider: […]