In conformity with a judgment of the Court of Justice of the European Union (CJEU: C-383/18) of 11.09.2019, in case of an early credit repayment, the bank is obligated to return all costs incurred by the borrower, proportionally to the actual crediting time. The refund is to comprise among others, the commission, initial fees and insurance for the period from the date of actual credit repayment until the date of repayment set in the agreement. A settlement should thus comprise not only interest on instalments, the borrower will no longer pay, but also the fees charged in connection with concluding the credit agreement.
The CJEU judgment coincides with the position of the Office of Competition and Consumer Protection and the Financial Ombudsman of 2015. According to the Office of Competition and Consumer Protection, there are pending investigative proceedings, at an early stage, and further matters will be initiates on an ongoing basis. The maximum fine for a breach of the Act on consumer credit may amount to 10 percent of turnover.
Following the suggestion published by the Office of Competition and Consumer Protection after the CJEU judgment, a consumer who has repaid a credit, and has not received previously charged fees from the creditor, should lodge a complaint invoking the CJEU judgment. Should such complaint be rejected by the creditor, the consumer’s rights may be defended in court.
The application for preliminary ruling was filed with the CJEU by District Court Lublin-Wschód. The judgment shows the domestic courts how to interpret regulations concerning the need for the creditor to return a part of the total cost of credit in case of early repayment and how to adjudicate in case of consumers’ claims.