The Trade and Industry Appeals Tribunal reverses an administrative fine for providing excessive credit


On appeal, the Trade and Industry Appeals Tribunal (CBb) reversed an administrative fine imposed by the Netherlands Authority for the Financial Markets (AFM) of €24,000. The administrative fine had been imposed in 2010 on Mercedes-Benz Financial Services B.V. (Mercedes-Benz). According to the AFM, the policy of Mercedes-Benz was not sufficiently focused on the prevention of offering excessive consumer credit.

According to the AFM, the criteria applied by Mercedes-Benz to prevent excessive credit were not suitable for that purpose. The CBb ruled, however, that the criteria are not unsuitable for that purpose.

The AFM put forward that the criteria to be applied should never lead to the conclusion of a loan agreement that is irresponsible with a view to providing excessive credit to consumers. The CBb holds that this interpretation is too broad (Section 115(1) of the Decree on Conduct of Business Supervision of Financial Undertakings under the Wft (Bgfo)).

The AFM has removed the previous press release and the decision to impose a fine from its website. It will take this judgment of the CBb into account in the exercise of its supervision tasks.

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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