The European Central Bank will open a major inquiry on BBVA for undue charges to its customers

The Central Bank of Spain has agreed to require BBVA to review its mortgage portfolio and immediately restore the improperly charged sums.

At its meeting on 23 December 2014, the Executive Committee of the Central Bank of Spain launched proceedings and gave notice to the European Central Bank according to the provisions of article 38 of Regulation 468/2014.