Finance watchdog to probe DSB loans

The financial services sector watchdog AFM is looking into possible problems with a number of loans and mortgages extended by DSB bank.

The AFM told the Telegraaf that it had received ‘relatively many signs and complaints’ about products and advice from the bank. For example, some mortgages are said to be so high that clients can no longer make repayments, the paper says.
A spokeman for DSB told the Volkskrant that the company was very surprised by the probe and that it had not been officially informed.
Criticism of DSB, which now controls around 20% of the private loans market, is not new, the Volkskrant says. Consumer groups have also raised the alarm about the expensive insurance policies which customers are urged to take out to cover their loans.

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