Holland Authority for the Financial Markets (AFM) has imposed a fine that is administrative of on Mr M. Batenburg of Rotterdam. The fine is imposed because within the duration Mr Batenburg had been the de manager that is facto the committal of an offense by the cash advance provider BA Finance B.V. it is a contravention of part 2:60 (1) associated with the Financial Supervision Act (Wft).
BA Finance it self just charged customers low solution charges, but then charge the consumer high costs for non-compliance, for example €135 on a loan of €500 if the loan was not repaid within the agreed 7-day period, BA Finance would pass the https://loanmaxtitleloans.info/payday-loans-co/ loan for collection to Credit Consulting B.V., who would. Loans had been passed away into the collection agency in around 80 % of situations.