The banking industry in Portugal, is since last year obligated by law to compensate their customers with housing credit, every time the Euribor Rates are negative.
The Euribor interest rates, (for 3 and 6 months) are negative since 2015, but only since 2018 the Portuguese Government approved in parliament the law that obligates the banks to pay back the difference to their customers.
Photo: Algarve Portugal
The amounts payable have a small impact on the banking industry. They are Fair, and they bring more justice to the business.
With such a delay, by the Portuguese Parliament to approve the new law, the Portuguese consumers lost 2 years of benefits, while the banking Industry got 2 years of extra profits.
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