Caixa Terrassa forced to suppress the rounding clause in his mortgages
27.04.2006
The rounding clause has condemned Caixa Terrassa to suppress the Hearing of Barcelona in all his mortgage loans of variable type and to return the amount received illicitly from the clients from 1998, with the corresponding interests.
The court ratifies thus the judgment of the Court of the First Instance number 53 of Barcelona, which he already condemned to the Catalan savings bank in a demand presented by the Users' Association of Bank Services (Ausbanc) in representation of titling it of one of these contracts.
The judgment thinks that the rounding clause is excessive because for his purpose (to simplify the calculation of the interest rate) it is not necessary to impose an increase of up to a quarter of point (0,25 %).
In opinion of the magistrates, the clause provokes a hereditary imbalance on having been of benefit ‘in all the cases’ to the credit company
Comments
Something on that to comment?
