Raiffeisen Bank, the first reaction after returning 13.4 million euros to 5,530 Romanian customers

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  1. On November 1, 2022, the High Court of Cassation and Justice condemned Raiffeisen Bank SA for unfair commercial practices affecting Romanian consumers from 2006-2009 for a total of almost 22 million euro.

    Turns out, the Austrian bank arbitrarily hiked interest rates for its Romanian clients. No big deal, *richtig*?

    Usually, Austrian banks get away with their unscrupulous methods. But this time Raiffeisen started paying in earnest exactly 2 days ago. What could have happened?

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