meta_id 3322252

On December 2024, France's General Directorate for Competition, Consumer Affairs and Fraud Prevention (Direction Générale de la Concurrence, de la Consommation et de la Répression des Fraudes — DGCCRF) imposed a transactional fine of €300,000 on Banque Populaire Val de France for engaging in deceptive commercial practices. Following an investigation conducted by the Departmental Directorate for Consumer Protection of Yvelines between September and December 2024, the DGCCRF established that Banque Populaire Val de France had misled consumers by offering credit products that appeared to be earmarked credits but were not. Earmarked credits provide greater consumer protections and guarantees than non-earmarked credits. By misrepresenting standard credits as earmarked credits, the bank offered consumers fewer protections than they believed they were receiving. The transactional fine was proposed with the agreement of the Public Prosecutor at the Judicial Court of Versailles. Banque Populaire Val de France accepted both the fine and additional obligations imposed by the DGCCRF. These obligations include publishing the enforcement notice and ceasing the deceptive practice immediately. The settlement represents the DGCCRF's enforcement action against misleading financial product marketing in the consumer credit sector.