Two fines has been imposed on Banco Santander, S.A.

17/05/2019

• Fine imposed on Banco Santander, S.A. amounting to three million two hundred thousand euro (€3,200,000) — after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(d) of said Law 26/1988, consisting in the performance on a merely occasional or isolated basis of actions or operations prohibited by regulatory and disciplinary provisions with the status of law, or in non-compliance with the requirements laid down in those provisions.
  
  This infringement was committed since breaches were detected of Laws 41/2007, 2/1994 and 44/2002 relating, respectively, to: early repayment charges and compensation for bearing interest rate risk; novation charges in maturity extensions; and rounding of interest rates.
• Fine imposed on Banco Santander, S.A. amounting to three million two hundred thousand euro (€3,200,000) — after application of the reduction of 20% for voluntary payment established in Article 85 of Law 39/2015 of 1 October 2015 on the general government common administrative procedure — pursuant to Article 10(a) of Law 26/1988 of 29 July 1988 on the discipline and intervention of credit institutions, (substantive rule on sanction proceedings, applicable in view of the time of the commission of the infringement), for the commission of a serious infringement of the type defined in Article 5(e) of said Law 26/1988, consisting in the performance of actions or operations in breach of the rules issued under Article 29(2) of Law 2/2011 of 4 March 2011 on the sustainable economy.
  
  This infringement was committed since breaches were detected of Ministerial Order 2899/2011 and of Banco de España Circular 5/2012, relating to: the provision of pre-contractual information; the content of settlement documents in early repayments in which interest rate risk compensation is charged; the debiting of fees in the novation of transactions; the calculation of the annual percentage rate (APR) included in the pre-contractual information and contractual documentation; and the content of the pre-contractual information on other costs included in the APR and in the total amount repayable.