Crédite Agricole Italy: fine by the Antitrust for improper practices
$1 million fine for suggesting more expensive wire transfers on the app
The Antitrust Authority closed an investigation procedure against Credit Agricole Italia Spa, imposing an administrative fine of 1 million euros. According to the Authority, the bank "limited the freedom of behavior of consumers in relation to the choice of the type of online transfer to be used and conditioned them to choose the instant transfer, more expensive than the ordinary one". In particular, the Antitrust explains in detail, the customer who intended to make a transfer through the Credit Agricole Italia app "in the version prior to the one released on 11 October 2021, read - next to the instant transfer option 'Arriva immediately' - the word 'Suggested'. Furthermore, even after the choice of the ordinary bank transfer, the consumer was offered the more expensive solution of the instant transfer with a highlighted box containing the words 'Proceed with instantaneous'. The Authority held that this conduct constitutes "a violation of articles 24 and 25 of the Consumer Code because it is capable of exercising undue influence and considerably limiting the freedom of the average consumer in relation to the choice of the type of bank transfer".
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