Panel SA: Procon fines Banco Pan R$ 11 million

Procon-SP fined Banco Pan almost R$ 11.3 million. According to the consumer protection agency, the company did not submit the requested information on alleged loans without authorization from customers within the deadline.

Procon says it has received complaints from consumers, including pensioners, retirees and the elderly. The bank was notified by the agency, but did not send clarifications and documents within the established period, which constitutes an infringement of the Consumer Defense Code, says Fernando Capez, executive director of Procon-SP.

Capez says the practice is abusive, especially when it occurs with vulnerable audiences.

“We understand that a deposit in the account of a person who has not requested, as an unsolicited loan, should be considered a free sample, an advertisement for the institution’s financial services. As a free sample, the amount would not need to be returned, and the interest characterize undue charging”, says Capez.

Banco Pan may appeal by presenting the express authorization of each of the customers and proof that they were aware of what they were authorizing.

Sought by Panel SA, Banco Pan says it has not received official notification from Procon-SP and, since it became aware of it, it has been investigating. “Pan reinforces its position of respect with customers and is available in all its service channels”, says the company, in a note.

with Andressa Motter e Ana Luiza Hisi