Sanction for ABANCA €3,000,000
At its meeting on 21 December 2018, the Governing Council of the Banco de España agreed to impose on Abanca Corporación Bancaria, S.A., a fine of three million euro, after application of the reductions of 40% established in Article 85 of Law 39/2015 of 1 October 2015, on the general government common administrative procedure. The fine is for the commission of a serious infringement, consisting in the performance, from 1 January 2015 to 30 September 2016, of actions or operations in breach of Ministerial Order 2899/2011 and Banco de España Circular 5/2012. (Article 93(f) of Law 10/2014 of 26 June 2014 on the regulation, supervision and solvency of credit institutions).
In the proceedings, proof was evidenced of several breaches relating to:
pre-contractual information provided to the customer in respect of costs and charges of mortgage loan transactions
and the inclusion of these costs and charges in the calculation of the annual percentage rate (APR).