2012 February

Victims of banking products “at risk” protest at the Bank of Spain

Affected by the recruitment of banking products “at risk” have been concentrated in Madrid to protest against what they define as the “fraud of the preference shares” and demand the return of their savings. According to the Association of Users of Banks, and Insurance (ADICAE), convener of the event, about 500 people gathered in front of the Bank of Spain to ask to make liquid investments in what they consider “toxic” and which included along preference shares other savings complex.

As he explained to Efe ADICAE president, Manuel Pardos, are products of “great complexity and many risks” for which there were adequately informed consumers, mostly elderly, and now can not recover savings unless you accept swaps and conditions “abusive”. To Hazel, concentrations today in other cities like Barcelona and A Coruña, serve to denounce the situation of those affected and to alert other consumers. Read the rest of this entry »