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Kutxabank implements direct reimbursement of mortgage expenses in response to lawsuits

Kutxabank's emblematic headquarters in Bilbao, epicenter of important financial decisions and regulatory changes.

Jeickson Sulbaran

November 23, 2023 | 9:00 pm

The bank entity kutxabank has announced a momentous measure in the management of reimbursements related to mortgage expenses. After a prolonged period of legal disputes and pressure from consumer groups, the bank has given in to the demand to simplify the refund process, marking a milestone in the history of finance and consumer rights in Spain.

History of a change: The ruling of the supreme court

The decision kutxabank is framed in the resolution of the Supreme Court of January of 2019, which established an equitable distribution of mortgage expenses between clients and banks. This court ruling, which forced financial entities to assume the registration costs, was the trigger for Kutxabank to review its policies and procedures, thus avoiding future litigation.

The bank's new policy kutxabank facilitates to its clients the process of claiming undue mortgage expenses, instead of facing a judicial process, it will be enough to present the relevant invoices and proof of payment to obtain reimbursement. This change represents a significant reduction in the time and effort required by affected customers.

Impact and recommendations of EKA/ACUV

The consumer association EKA/ACUV has played a crucial role in this victory for the Consumer rights. They have urged those affected to process their applications before the end of the year, warning about the possible prescription of nullity in January 2024. This period is established five years after the Supreme Court ruling, marking a deadline for claims.

A fairer future for consumers

The decision kutxabank not only benefits the affected customers by abusive clauses, but also sets an important precedent in the defense of consumer rights. This case highlights the effectiveness of collective actions and social pressure in implementing fairer and more transparent banking practices.

El Kutxabank case It is a clear example of how social pressure and judicial decisions can positively influence the commercial practices of large entities. It represents a significant advance in the fight for consumer rights and establishes a model for other financial institutions to follow.

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