Recent Court of Appeal Judgment Confirms Banking Practice of Charging of Commitment Fees
This article was written by Dr Maria Lisa Buttigieg & Tessa Borg Bartolo.A client of BNF Bank p.l.c. instituted proceedings before the Arbiter for Financial Services against the said Bank in order to obtain a refund on certain fees imposed by the Bank in relation to loan facilities granted by the Bank to the said client.The fees which the client requested a refund of consisted of relative processing fees, legal fees and commitment fees. The client in her complaint alleged that the fees were not clearly communicated to her and that the commitment fee should not have been charged since she had…
Maria-Lisa Buttigieg15th October 2021