The Bank of Spain has made public this Wednesday a resolution in which it imposes on Banco Sabadell a penalty of 16.5 million euros for marketing jointly mortgages and insurance.
The regulator details that the fine is due to an infringement classified as very serious, derived "from non-compliance with the obligations provided for in Law 5/2019, of March 15, regulating real estate credit contracts."
According to the resolution, the regulatory breach is linked to the "carrying out of tied-selling practices prohibited by the rule and to the duty to act in an impartial manner respecting the interests of its clients".
The body emphasizes that these behaviors "are especially relevant in view of the number of transactions affected and the repetition of the conduct".
The decision is being made public now that the sanction has become final, after the financial entity decided to challenge it at the time.