World Premiere: Banks Taken to Court in Romania

The first collective law suit against a bank started on Wednesday in Romania. 400 not so happy customers filed a massive complaint against one of Romania’s leading banks. Four strong men were needed just to carry the content of 10 file cabinets to court – that is how big the file against the bank is.

The customers are complaining that the bank charged them abusive fees and arbitrary interest rates. In the good days, when the banks threw loans at people, the bankers also charged a rather large “risk fee”, that has since been outlawed in Romania. Now, the banks have renamed the “risk fee” to “administration fee”, and still try to charge it.

Customers also asked the court to suspend the payment of interest until a sentence is given. It may be a while until this matter is solved, since the first court date has been set to October the 24th 2011.

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