OTP Bank fined HUF 132 million for misleading preferential deposit advertising
Company: OTP Bank Nyrt.
Summary
The Hungarian Competition Authority found that OTP Bank's 2007 advertising of preferential deposit rates was misleading because key conditions for obtaining the advertised rates were not always properly communicated. The GVH imposed a HUF 132 million fine. A court later confirmed the finding that OTP had misled consumers, while requiring a new proceeding on calculation of the fine. Source: https://www.gvh.hu/en/press_room/press_releases/archive/press_releases_2007/5004_en_misleading_campaign_for_deposit_fixing_leads_to_highly_fixed_fine