Rabobank was fined 12 million euros. The Dutch Financial Markets Authority (Autoriteit Financiële Markten - AFM) believes that some mortgage loans were issued irresponsibly.
Does the news threaten investors?
Let us immediately reassure Rabobank depositors - this news does not threaten them in any way. The bank is in good financial health and is considering filing an appeal against the decision. The money to pay the fine is already accumulated in the bank.
What happened?
AFM accused Rabobank of being irresponsible by its staff in making loans under the personal mortgage scheme. When using this scheme, the borrower can receive a loan for an amount greater than usual. AFM believes that the bank issued loans with monthly payment amounts that they found difficult to cover. To apply this lending scheme, employees provided calculations and documents confirming the possibility of issuing a loan to the borrower under an individual scheme.
It is important that violations occurred back in 2019-2021. According to the bank's management, the policy has since been tightened, and loans in unreasonable amounts are not issued.
Did you know that part of your mortgage payments can be offset through tax cuts? A correctly prepared tax return will allow you to compensate for some of the other costs associated with the purchase of housing. Order filing a declaration at Nalog.nl and get the maximum tax refund!
Publication Date: 27.12.2023
