Big banks have collected illegal debts from bad payers

Major banks such as Nordea, Jyske Bank and Nykredit have for years collected debts from bad payers – debt collection customers – in violation of the rules.

This is what TV 2 and Berlingske write after having access to reports submitted to the Danish Financial Supervisory Authority from eight of the country’s large financial institutions.

The exact extent of the errors is difficult to map on the basis of the reports that the two media have access to.

The banks have collected debts which were either outdated, calculated incorrectly or which the customers in question had never borrowed from the banks.

In 2020, the same two media could reveal similar errors in Danske Bank. The Danish Financial Supervisory Authority then launched an investigation into the rest of the industry’s handling of debt customers.

These are the statements Berlingske and TV 2 have obtained access to.

In addition to Nordea, Jyske Bank and Nykredit – where the errors are most extensive – Arbejdernes Landsbank, Lån og Spar Bank, Sparekassen Sjælland-Fyn, Jyske Realkredit and Jyske Finans have also had faulty debt collections.

Consumer advice: Scary

Chief economist from the Consumer Council Tænk Morten Bruun Pedersen tells Berlingske that he finds it frightening that the errors are so ‘widely based in the financial sector’.

“You don’t have control over the statute of limitations, and you lump principal, interest and fees together in one lump sum. It surprises me a lot, because it is actually a quite clearly regulated area,’ he says.

He calls it the core of debt recovery and points out that a bank must ‘simply keep track of it’.

Jyske Bank, Nordea and Nykredit both ‘regret’ and are ‘regrettable’ about the mistakes. They are in the process of sorting out the cases. Nordea estimates that 154,000 customers may be affected, writes TV 2.

Finans Danmark, the banks’ trade association, writes to TV2 and Berlingske that they regret the mistakes and that ‘it is our experience that the banks in question are working hard to solve the challenge’.

Arbejdernes Landsbank, Lån og Spar Bank and Sparekassen Sjælland-Fyn inform TV 2 and Berlingske that the errors have been corrected.

Source: – Forsiden by

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