Tuesday, December 6, 2016

BMW needs to 50 million Euro penalty in Australia – FAZ – Frankfurter Allgemeine Zeitung

BMW will have to pay in Australia a penalty.

have to pay Because of the awarding of unauthorized loans to car buyers in Australia BMW to affected customers the equivalent of about 50 million euros. The loans had been granted by a financial subsidiary of the Bavarian car manufacturer, although the borrowers to afford the purchase of a new car and the money, obviously, could not bother welshing, informed the Supervisory authority Australian Securities and Investment Commission (ASIC). In addition, the company must provide the equivalent of about 3.5 million Euro for an educational program, the consumer in dealing with money and credit training.

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An investigation brought the reported cases to the light of day, where customers obviously wrong were discussed. A 21-year-old refugee got a loan in the amount of 23,000 Australian dollars (about 16,000 euros) granted, although he had only made a one month Job.

another man got a loan of 50,000 Australian dollars, although the envisaged car was only worth half. Are affected according to the figures, at least 15,000 customers, to have suffered between January 2011 and August 2016 due to breaches of Australian consumer protection rules disadvantages.


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