The case of toxic loans to individuals by BNP Personal Finance becomes problematic for the subsidiary (100%) of the first French bank. Reportedly, BNP-PF is the subject of a “setting residual examination” since June 10, but nothing had filtered far. These loans were taken out in Swiss francs but repayable in euros catastrophizes prove to their subscribers. In April, the bank had already been indicted for “misleading commercial practice” within that folder.
The case is very painful for 4655 households who contracted these loans referred Helvet Realty between 2008 and late 2009 before BNP-PF stops herself marketing. Due to the outbreak of the franc against the European currency, the principal payments are increasing. Borrowers have good pay their monthly payments, they still need more money. As this family Wissembourg (Bas-Rhin) who borrowed 132,000 euros in July 2008 as part of the purchase of housing for rent. It must now 196,135 euros (64,135 more) while it reimburses 833 euros per month for seven years. Nobody nothing Masters and one wonders how perilous as loans to households have been dreamed up by bankers who know the vagaries of the currency markets.
Faced with this situation, borrowers evoke “vertigo”. Others say their lives “rocked in agony.” Curiously, these human dramas do not interest the ministers serving in Bercy. Pierre Moscovici and Michel Sapin, who succeeded as head of the Ministry of Finance adopted the same attitude: we do not move. For a long Bercy has stuck to the version of the bank: the persons concerned are investors, as heard unwary. In reality, it means households (meat department manager, police, teachers, doctors, managers in the public service or the private …) who bought property under the tax arrangements Robien, Borloo Sellier, allowing for tax cuts.
judicial side, following complaints with the constitution of civil party 619 customers, an investigation was opened in April 2013 by Claire Thépaut judge. The magistrate auditioned Thierry Laborde, the former CEO of BNP-PF successor in June to François Villeroy de Galhau the post-Deputy Director General of the BNP Paribas group, the latter being approached by the government to become governor of the Bank of France. wealth management companies officials who marketed the loan and the borrowers were also heard. CLCV (consumption, housing, quality of life), a consumer association, is a civil party. According to Mediapart, a Regional Director of BNP-PF that has been at the heart of marketing Helvet Realty loans could also be auditioned.
Besides “misleading commercial practice”, the bank would have particularly failed to state in clear terms that there is a currency risk based exclusively on the client. Hence the “set supplementary examination.” If the timing of the loan originally planned would be insufficient to repay the principal, the monthly payments would be totally déplafonnées over the past five years to pay the balance. This can result in a real financial shipwreck to the households concerned.
In addition to criminal proceedings, borrowers have sued the bank in the civil courts for redress. But judges now make conditional sentences proceedings considering that they need to be informed by the criminal investigation before judging. Contacted by Release, BNP Personal Finance declined to respond, citing the confidentiality of investigations.