DSB bank reaches deal on complaints

Independent DSB bank, under fire for overselling mortgages and charging too-high fees, has finally reached a compensation deal with one group respresenting unhappy customers, according to media reports on Friday.

The agreement with customer group Steunfonds Probleemhypotheken should have been signed on Monday, but the bank pulled out at the last minute.
The deal covers DSB customers whose mortgages are too high compared with their income or the value of their home. Exact details of the compensation package remained unclear on Friday morning but according to the Telegraaf, customer with excessive mortgage-related insurance polices will be able to cancel them.
Two lobby groups currently represent DSB customers who claim they have been cheated or sold too-high mortgages.
The second group, Hypotheekleed, is fighting for individual compensation for home owners who say they were advised to take our mortgages which they cannot afford.
The founder of Hyptheekleed, Pieter Lakeman, may also face an official investigation after he called on savers to withdraw their money from the bank in order to force it into bankruptcy.

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