Toxic loans: BNP Paribas will pay up to 600 million euros to 4,600 customers

2024-01-01 20:05:49

A “before and an after”. For François Carlier, the general delegate of CLCV, the agreement that his consumer association has just signed with BNP Paribas creates a precedent. As early as 2016, the CLCV had in fact initiated a group action against the leading European bank, as part of the Helvet Immo affair.

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What did she criticize the BNP for? To have marketed an extremely risky loan in 2008 and 2009. Offered in Swiss francs, but repayable in euros, it allowed you to benefit from a more attractive interest rate. Enough to attract 4,655 customers, for a total subscription of 770 million euros. Problem: the risks involved had been ignored. In particular, the euro weakens against the Swiss franc, to the detriment of borrowers, who then have to spend more euros to repay their credit in Swiss francs. But that is exactly what happened.

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