They criticize government measures against mortgage fraud in Spain – Prensa Latina

January 21, 2017, 11:46 amMadrid, 21 ene (PL) Spanish Banks, returned to customers up to three billion euros by charges of improper mortgages, but no one dares to fine the lenders because of fraud, reported today a civil organization.

In a statement to the press, the president of the Spanish Banking Association, José María Roldán, said that will be reimbursed between two thousand and three thousand million euros due to the demands in excess of the so-called clauses ground.

By means of royal decree-law, the Executive established yesterday a judicial mechanism with a view to the return of the money, which would avoid long and costly judicial processes.

however, this Saturday the grouping Facua-Consumers in Action, he lamented that ‘no one dares to fine the banks for the biggest fraud to consumers that has occurred in the history’ of the country.

The grouping announced that it will not participate in the follow-up body provided for by law decree on the terms soil to not become ‘a mere guest of stone from the Government to take the picture’.

If you come back the full payment of fraudulent interest, it will be thanks to the judgment of the Court of Justice of the European Union, as the Spanish Supreme ‘it was intended that the banks should with all defrauded before may 2013′, noted the association.

The royal decree-law, put in force this Saturday, ‘does not envisage any sanctions for the entities that decide not to adhere to the system of extra-judicial claims or to do so but refuse to refund the entire money to the users’ assessed the entity.

Facua represents the thousands of people affected by the clause soil and the collection of abuse of the expenses of formalization of their mortgages, and if the banks refuse to comply, the association shall file ‘a battery of new lawsuits,” indicated the statement.

Applied to the mortgage loans variable interest, these clauses meant that interest rates fall below a certain limit even though they had a real decrease in the market.

In such a way, the banks obtained higher yields when due, and without which many of their customers knew the fact due to the lack of transparency in contracts.

On the origins of the conflict is the performance careless use of entities in the decade of 2000 gave mortgages to families without the ability to pay, at a time of boom construction.

As reported by the Executive, the judicial mechanism has the purpose to prevent the collapse of the courts, since it is estimated that about 1.5 million people were in any way whatsoever by any such abusive practices.

aml/mjm