Spain has a widely respected financial consumer's
association called AUSBANC. This association is
private, but offers advice to both members and non-members, with
the latter paying a fee per consultation.
One of Ausbanc's primary activities is fighting against banking laws it sees as unjust from a consumer's point of view. A recent victory, for example, has been in the case of mortgages with a court finally ruling that the common practice by Spanish banks of "rounding up" interest rates, was unfair to clients. It will take years for this practice to be wiped out, however, and in the meantime, Ausbanc is educating members and general public alike.
Ausbanc can be very helpful to anyone in need of guidance or even legal advice and support in dealing with financial matters. The group offers complimentary form letters to help consumers deal with a wide variety of problems, and publishes two weekly, national publications - Usuarios (or Users), for bank consumers, and Mercado de Dinero (or Money Market) for investors.
To learn more about your local branch of Ausbanc,
Tel: 952 600 637. Consultations in English can be arranged via e-mail
submissions.
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