The Banco de España steps up oversight of bank advertising
One of the Banco de España’s tasks is oversight of advertising of banking products and services, providing support to bank customers in any related matters. Such advertisements must provide clear, sufficient and impartial information on the products offered by banks. The Market Conduct and Complaints Department sent 441 notifications to banks in 2019, asking them to rectify or remove advertisements that contravened the regulations. This was 43% more than in 2018.
With an ever-increasing amount of banking products and services on offer, marketed through more innovative channels, the Banco de España pays particular attention to digital media, which accounts for 68% of all notifications, without forgetting other more traditional media such as the press, television or posters and advertising boards.
Access to press release.