korea banks face class action over high loan rates
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

Korea Banks face class action over high loan rates

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Arab Today, arab today Korea Banks face class action over high loan rates

Seoul - Yonhap

A South Korean consumer advocacy group said Wednesday it plans to lodge a class action suit against local banks over their practice of imposing unduly high spreads on lending rates. The Financial Consumer Agency said it will seek to accept cases of financial damage caused by banks' higher lending rates and to file a class action suit as local banks unduly charged higher spreads on lending.

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