Investing
BNP settles for up to 600 million euros in Swiss franc loan case -Le Parisien
© Reuters. FILE PHOTO: BNP Paribas Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
PARIS (Reuters) – BNP Paribas (OTC:) has signed an agreement with France’s leading consumer group CLCV for between 400 million and 600 million euros ($662.3 million) compensation after its consumer credit unit was sentenced over misleading practices about swiss-franc mortgages, French daily Le Parisien said on Monday.
BNP Paribas Personal Finance (BNPPF), known through its Cetelem brand, in late November was found guilty of concealing the risks of its Helvet Immo Swiss franc loan, of which some 4,600 contracts were signed in 2008-2009.
The loan, designed for tax-free rental investment, was made in Swiss francs but repayable in euros. The repayment soared when the euro fell against the Swiss currency after the 2008 financial crisis.
BNP Paribas and CLCV were not immediately available to comment.
($1 = 0.9060 euros)
Read the full article here
You Don’t Need Thousands to Turn Your Business Idea Into Reality — Here’s How I Did It on a College-Kid Budget
How a Single PowerPoint Raised $300 Million for This Founder
AI Pioneers Win $1.06 Million, 2024 Nobel Prize in Physics
How to Build a Workplace Culture Centered on Love, Abundance and Purpose
U.K. stocks lower at close of trade; Investing.com United Kingdom 100 down 1.37% By Investing.com
How to Develop Empowered Leaders Within Your Own Team
How to Be Unapologetically You and Why It Matters
Are You Running Your Business, or Is Your Business Running You?
7 Marketing Strategies to Help Your Startup Grow and Scale
How Your Body Language Can Help Win a Disagreement
Debt ceiling debate and its effect on the U.S. dollar
Debt ceiling default: Still no deal between parties
Stovall: If the U.S. defaults on its debt, all S&P 500 sectors will likely fall
What China's weaker-than-expected economy could mean for U.S. markets
A ‘Big Short’ investor sees financial disaster brewing in housing markets — again
-
Side Hustles6 days agoHow to Develop Empowered Leaders Within Your Own Team
-
Side Hustles4 days agoHow to Be Unapologetically You and Why It Matters
-
Passive Income5 days agoAre You Running Your Business, or Is Your Business Running You?
-
Investing5 days ago7 Marketing Strategies to Help Your Startup Grow and Scale
-
Side Hustles5 days agoHow Your Body Language Can Help Win a Disagreement
-
Side Hustles5 days agoOpenAI Raises Record $6.6 Billion, Adds 50 Million New Users
-
Side Hustles6 days agoWhy the Best Time to Sell Your Business Is When You Least Expect It
-
Make Money5 days agoFlexJobs Report: Here’s How Workers View AI and Job Stability