The Franak Association has filed a complaint against Zagrebačka and Splitska Bank for illegal behavior, announced today at a press conference held simultaneously in five cities.
Zagrebačka and Splitska Bank have been reported for violating the Law on Obligations as the banks attempt to mislead loan users who contracted loans before January 1, 2010, citing the Consumer Credit Act, which does not apply to old loan users in the segment of determining variable interest rates.
– We demand that the Croatian National Bank prohibit the use of CDS (Country Credit Risk) and NRS (National Reference Rate) in the formulas for calculating variable interest rates. We also demand that it appropriately sanctions the banks’ attempts to mislead loan users who contracted loans before the beginning of 2010, said Goran Aleksić from the Franak Association.
They also submitted a request to the Croatian National Bank to remedy the damage occurring to all loan users who have a variable interest rate without a formula, as such a provision, although contracted, is null and void under the law. They also reminded of their demands submitted to the Croatian National Bank regarding the new Law on Credit Institutions, as if they do not support the proposals, they will be jointly responsible for the conflict between two laws – the new law on credit institutions and the Law on Obligations.
