ROME: France’s Credit Agricole is being investigated over the online cost simulations for one of its mortgages, Italy’s antitrust regulator said on Wednesday.
Calculations for it ‘Greenback’ mortgage, both on the lender’s website and on comparison ones, do not include all of the insurance costs related to the loan within the so-called TAEG annual percentage rate, the regulator said in a statement.
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It added that on websites where it is possible to compare it with products from other banks, the full conditions required are not fully listed and that the lender does not tell clients that discounts vary according to the channel used to open the mortgage.
The watchdog has carried out inspections in the Italian offices of Credit Agricole along with the Italian finance police, the statement added.
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