The Italian Competition Authority ascertained that between September 2007 and December 2009, operations for termination of current accounts were completed with unjustifiably long and for consumers unpredictable timetables.
The defendant did not adopt appropriate procedures to inform consumers about the obstacles concerning their request for termination of their account.
The investigation also revealed that during the closing of accounts, consumers were charged for costs associated with the management of the current accounts they could not benefit fully anymore. This practice led to a paradoxical situation where, because of the slow process of termination, the consumer's balance on the current account got completely eroded by management fees, overdrawing the account.
As a result, taking into account the gravity and duration of the commercial practice, the Authority decided that the defendant had breached the prohibition on unfair commercial practices.