Hypo Alpe Adria Bank (HAAB) has prepared a new annex to the contract based on the Law on the Conversion of Loans in Swiss Francs to Euros, which can be signed by clients who have an established debt with the bank, the Center for Consumer Protection (CEZAP) announced.
"The new annex can be signed by everyone who has a fixed debt and with which they agree based on the findings of a financial expert, if HAAB also agrees with it. Clients who have already signed annexes will receive new ones and thus will be in the same position as everyone else," said representatives of CEZAP.
They stated that the new annex does not contain an illegal article which stipulated the client's obligation to return to the bank all the benefits acquired under of that annex or the Law in general.
"Our legal team, experts and the banking ombudsman have looked at the new annex to the contract, to which we have objections regarding the amount of default interest of 13,2 percent during the repayment of the loan after the conversion. However, we believe that clients can sign a new annex to the contract based on the Law on Conversion, which they receive from the bank", said representatives of CEZAP.
They added that the Law covers all loans.
CEZAP appealed to those responsible at HAAB and the Central Bank (CBCG) to apply the Conversion Act in its entirety to all loans as soon as possible, in order to get out of the bad situation for both clients and the bank.
"We don't see in whose interest it is for the Law to be obstructed and not implemented for so long, given that its non-implementation harms both clients and HAAB," concluded CEZAP.
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