The Cyprus Borrowers Association (Syprodat) this week described as a “significant turning point” the decision by the Consumer Protection Service to impose fines on the Bank of Cyprus and Eurobank regarding unfair clauses in their mortgage loan agreements.
The fine imposed on the Bank of Cyprus amounts to €800,000, while Eurobank , formerly known as Hellenic Bank, will pay €600,000.
The decision followed an extensive investigation by the service, which
