meta_id 3407272

On July 1, 2026, the Bank of Italy imposed an administrative monetary penalty of €65,000 on ViViBanca Spa for deficiencies in its organisation and controls relating to transparency in banking operations. The Bank of Italy identified the irregularities following inspections conducted between November 4, 2024 and February 14, 2025. The violations concerned the application of undue charges to customers in breach of Article 127 of Legislative Decree 385/1993 (Banking and Credit Code) and Article 125-sexies of the same decree, as well as the Governor's Decree of July 29, 2009 on transparency of banking and financial services and the correct conduct of relations between intermediaries and clients. The Bank of Italy also found breaches of Article 144 of the Banking and Credit Code. ViViBanca Spa was formally notified of the irregularities in accordance with Article 145 of the Banking and Credit Code. The bank submitted observations during the investigation process and further submissions in response to the proposed sanction from the Bank of Italy's Institutional Relations and Supervision Service. However, the Bank of Italy determined that these submissions were insufficient to overcome the proposed penalty. The Bank of Italy considered the scope and significance of the identified irregularities and the losses incurred by customers as a result of the application of undue charges when determining the penalty amount. The administrative monetary penalty was imposed in accordance with Article 144 of the Banking and Credit Code. The decision was adopted by the Bank of Italy's Directorate following the separation of investigative and decision-making functions as required by Article 24 of Law 262/2005.