President of the Office of Competition and Consumer Protection warns: European Financial Corp. Sp. z o.o., a lending company, does not refund charged administrative fees to its clients if they fail to conclude an agreement. The amount of costs is between PLN 1500 and PLN 10,000. It is the third warning issued by the Office.

The Office of Competition and Consumer Protection receives complaints against the lending company European Financial Corp. Sp. z o.o. They concern the fact that the entrepreneur retains the fees charged to clients if they do not conclude a consumer credit agreement.

The President of the Office established that European Financial Corp. charges a so-called administrative fee when a client applies for a credit. The fee amount depends on the credit amount, ranging from PLN 1500 up to PLN 10,000. Pursuant to the Consumer Credit Act, if an agreement fails to be concluded, the consumer has the right to receive a refund of all paid fees.

The Office of Competition and Consumer Protection (UOKiK) that according to collected information, European Financial Corp. does not refund the charged fees to their clients, although the agreement is not concluded. This is illegal.

The practices of European Financial Corp. cause serious financial damages to a wide range of consumer, which is why the President of UOKiK decided to warn consumers.

According to the Act on competition and consumer protection, the Office issues a warning whenever it establishes that a given entrepreneur applies an illegal practice, creating a possible risk of serious financial damages or adverse impacts for a broad range of consumers. The warnings are published on the Office’s website.

It is a third consumer warning issued by UOKiK. The entrepreneur operates in the entire territory of Poland. Simultaneously, the Office is conducting a proceeding against the entrepreneur in relation to a violation of collective interests of consumers. The proceeding will also concern retained fees, which should be returned to the consumers.

More information for the media:

Press Office, UOKIK
pl. Powstańców Warszawy 1, 00-950 Warszawa
Tel. 22 55 60 111
E-mail: [SCODE]Yml1cm9wcmFzb3dlQHVva2lrLmdvdi5wbA==[ECODE]

Twitter: @UOKiKgovPL