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[Alpha Biz=(Chicago) Reporter Kim Jisun] If fees are overdue, a number of bank terms and conditions that have made them disadvantageous to customers have been caught, such as suspending the service without notifying customers or allowing them to use credit information without individual consent.
The Fair Trade Commission said on the 7th that it has asked the Financial Services Commission to correct 129 details that infringe on consumer rights and interests out of 1,391 terms of financial transactions between banks and mutual savings banks, which were enacted and revised last year.
Among the terms and conditions caught this time included clauses that "the service will be restricted if they violate matters guided through other apps" or that "the service can be suspended without further notice if corporate customers fail to pay their fees."
The FTC explained, "The reasons for the service restriction and change are too comprehensive or do not provide correction opportunities, which is disadvantageous to customers." There was also a clause that only informs the interest rate based on the loan agreement date and allows the actual interest rate to be applied on the loan execution date to omit individual notification.
The financial authorities will advise banks to change the terms and conditions requested for correction. The FTC plans to review the terms and conditions of credit card companies and securities firms by October and December, respectively.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
