Consumer News

Condemnation of BV Financeira valley throughout Brazil

06/10/2016

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Company will have to return improperly charged fees since July 2005.

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Since April / 16, BV Financeira customers that signed financing agreements with the company after July 2005 are entitled to the return of some tariffs as unfair by the courts. There was a question, however, whether the decision would involve all the country's consumers or only associated with the entity that filed the action, the Public Defense Institute (Polisdec). This doubt was clarified on Wednesday (10.05.16). The rapporteur of the case in the Minas Gerais Court of Justice (TJMG), chief judge Mariza Porto, acknowledged that the sentence involves all customers of BV Financeira in Brazil.

This achievement of consumers is the result of a lawsuit filed by Polisdec with Procon support of the Legislative Assembly of Minas Gerais (ALMG). BV Financeira was ordered to return the so-called "third-party service tariff", "contract registration fee", "assessment fare well" and "carnet issuance tariff (CET)" for further contracts to April 2008 in addition to the "received service costs."

In addition to return, with restatement, the amounts collected illegally, the company was forbidden to charge those fees in futures contracts and still have to disclose the court decision in the media. According to the lawyer of Polisdec Lillian Salgado, fees and abusive charges agreed by banks and financial in vehicle financing agreements and loans amount to encumber the total amount of financing up to 28%. Still appeal the decision of TJMG.

Procon Assembly - Press Office

Source: Procon Assembly - Press Office

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