UOKiK fines Bank Millennium

WSE-listed Bank Millennium has been slapped with a PLN 20.7 million fine by the antitrust watchdog UOKiK for “misleading its clients.” According to UOKiK the bank claimed that its abusive clauses put in the contracts and were on the public list of banned provisions were not a good enough reason to cancel contracts by the customers. According to the lender, the rules are ambiguous and will appeal the decision. “The content of the bank's response to complaints is a reflection of one of the two possible interpretations of the provisions regarding the reciprocal relationship of abstract control referring to the contract template and individual control related to a specific contract,” Millennium said in a statement, arguing that UOKiK had no grounds to force its own interpretation.