Intesa Sanpaolo Probed By Italian Watchdog Over Mortgages Marketing Practices--Update
20 September 2022 - 7:08PM
Dow Jones News
By Giulia Petroni
Italy's competition watchdog has launched an investigation
against Intesa Sanpaolo SpA for alleged unfair business practice in
the marketing of real-estate mortgages.
The Italian Competition Authority, or AGCM, said Tuesday that
the bank allegedly didn't provide adequate information to customers
in pre-contractual documents for fixed-rate and variable-rate
mortgages.
In particular, AGCM said Intesa Sanpaolo allegedly didn't
provide guidance on how to calculate the time between the
disbursement of a loan and the first monthly payment of the plan,
which lengthens the period of mortgage repayment, increasing its
cost.
Intesa Sanpaolo declined to comment.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 20, 2022 04:53 ET (08:53 GMT)
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