UOKiK launches proceeding against mBank over FX-mortgages
21:59
The Consumer Protection Authority (UOKiK) has struck down a contractual clause in some existing home mortgage loans of commercial lender mBank which had allowed the bank to set discretionary margins on FX-mortgages, opening the door for those loans to be nullified, the head of UOKiK Marek Niechcial announced on Thursday.
"We determined the terms in these lending deals are inadmissible in their entirety. They are therefore non-binding for consumers and since the clause defines the interest rate on the full loan, a significant element, the challenged clause could even bring about the nullification of the entire deal," UOKiK head pointed out.
mBank mortgage borrowers with the discretionary margins in their contracts have also pursued a class-action suit against mBank for damages.
In April, the watchdog launched proceedings against Getin Noble Bank and Credit Agricole Bank Polska over the CHF-based mortgage loans.
