The Franak Association today submitted a complaint to the State Attorney’s Office against the Croatian National Bank.
The Association stated before the submission of the complaint that they are filing against HNB for violating Articles 20 and 37 of the Criminal Code. They emphasized that HNB should have prevented the arbitrariness of banks. The Association indicated that they reported HNB for the criminal offense of inaction and incitement to a criminal offense.
– HNB denies the laws of the Republic of Croatia and the good practices of the European Union. We expect the State Attorney’s Office and Linić to align the operations of banks with the law on mandatory relations – said the Franak Association.
The Association announced that the reason for the complaint was the response of the Croatian National Bank to the submitted complaint against Zagrebačka and Splitska Banka nearly three months ago by the Franak Association, in which the Croatian National Bank clearly stands in defense of the banks. As the real reason for the complaint, the Association cites the long-standing illegal favoritism of HNB towards commercial banks in the Republic of Croatia, allowing them to unilaterally and illegally contract and change interest rates in tens of thousands of loan agreements.
The Franak Association also stated that HNB sided with the banks by interpreting the legal provision regulating the contracting of variable interest rates in a manner that is not at all grounded in the text of the Consumer Credit Act.
Representatives of the Association concluded that they expect the State Attorney’s Office to take appropriate legal measures and added that in the case of the Association’s lawsuit against the banks, they expect a non-final judgment this year.
