29.10.2021 – 11:15
Finanztip Consumer Information GmbH – a company of the Finanztip Foundation
Sparkasse Leipzig continues to be adamant in the dispute over back interest payments. For many years, savings banks have very often paid less interest for the popular premium savings contracts than the savers are entitled to. This was confirmed by the Federal Court of Justice (BGH) at the beginning of this month.
The action alliance made up of the citizens’ movement Finanzwende, Geldratgeber Finanztip and the consumer center of Saxony responded loudly and clearly to this refusal today with the appeal: “Finally pay the interest!” A joint protest action in Leipzig’s city center took place on the morning of World Savings Day 2021 with those affected and passers-by. In particular, the focus was on the demand on the savings banks to finally approach their customers.
On October 6, 2021, the Federal Court of Justice ruled that Sparkasse Leipzig had to pay interest on many premium savings contracts if consumers demand it. However, like many other savings banks, the Sparkasse Leipzig continues to stick to the procrastination tactic. Disappointed and frustrated older premium savers are thus forced to enforce their rights themselves, which is time-consuming. In the case of contracts with numerous savings banks that were terminated in 2018, there is a risk that claims will expire at the end of 2021.
“It has not only been clear since the current BGH ruling that the savings banks have to pay more interest. There has been a clear case law on this since 2004 that forbids the setting of interest in the manner of the landlord. It is simply unbelievable that the savings banks have been ruling for 17 years ignore the content of the Federal Court of Justice, “says Hermann-Josef Tenhagen, editor-in-chief of the financial adviser Finanztip. “It cannot be accepted that the legitimate claims of many thousands of older customers simply expire because of this. That must be prevented by all means!” Adds Tenhagen and refers to the various ways of preventing this statute of limitations.
“We started two years ago to support Saxon consumers in the dispute over their money and their rights. We were successful before the Higher Regional Court and the Federal Court of Justice. In the final sprint, those affected do not lose confidence! That is why we switch up a gear and mobilize further supporters and also after today’s protest action further measures. The Sparkasse Leipzig will pay “, shows Andreas Eichhorst, board member of the consumer association Saxony resolutely.
From the point of view of Julian Merzbacher, spokesman for the citizens’ movement Finanzwende, it is clear that the money has to flow. “The savings banks in particular, as institutions under public law, have an obligation not to gamble away further trust. The savings banks must take responsibility for their incorrect interest calculations. They owe that to their customers. The time game must come to an end. That is why we are calling for it very clear: Sparkasse Leipzig and Co .: finally pay your customers the interest, “demands Merzbacher.
In one open letter to the Sparkasse Leipzig emphasize Finanzwende, Finanztip and the consumer organization Saxony that the institute, as one of the largest savings banks in the Federal Republic of Germany, can turn from a brakeman to a pioneer. To do this, it has to become active itself and can influence other institutions and thus meet the demands of the savings banks as a reliable and strong partner.
In the legal dispute that has been going on for more than two years between the Sachsen consumer organization and the Sparkasse Leipzig, the Federal Court of Justice (file number XI ZR 234/20) decided on October 6, 2021 that the interest rate adjustment clauses used in the long-term savings contracts “flexible premium savings” are ineffective. In addition, the BGH decided that a long-term interest rate published by the Deutsche Bundesbank is to be applied to the supplementary interpretation of the contract while maintaining the relative interest rate differential and that the limitation period begins at the end of the contract at the earliest. The decision on which specific reference interest rate is to be used has yet to be made by the Dresden Higher Regional Court.
However, since all reference interest rates reflect the same interest rate development, no major differences are to be expected in this regard. According to calculations by the Consumer Center Saxony, an average additional payment amount of 3,600 euros per contract was determined – with one of the long-term reference interest rates in question.
According to the financial supervisory authority BaFin, there are around one million premium savings contracts with controversial interest rate adjustment clauses across Germany.
To the press release and open letter:
BGH judgment on premium savings contracts: https://www.finanztip.de/sparvertrag/praemiensparen/
Finanztip Consumer Information GmbH – a company of the Finanztip
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Original content from: Finanztip Consumer Information GmbH – a company of the Finanztip Foundation, transmitted by news aktuell