Gernandt & Danielsson has successfully represented Svea Bank in a case against the Swedish Financial Supervisory Authority regarding penalty fees pursuant to the Banking and Financing Business Act.
The Swedish Financial Supervisory Authority (“SFSA”) decided on 21 June 2021 to issue a remark against Svea Bank AB together with a penalty fee of SEK 45 million for alleged infringements of the Consumer Credit Act. According to the Financial Supervisory Authority, Svea Bank had not obtained sufficient information about consumers financial situation and its creditworthiness assessment was therefor