A stable, well-functioning financial market for allA stable, well-functioning financial market for allNews
2022
2022:1 Asylum seekers’ access to financial services
In this document, FI states its position on asylum-seeking refugees’ access to financial services in cases where the asylum seeker is lacking identity documents. The position replaces FI's previous memorandum (FI Ref.16-2898).
Greatest risk for repayment problems at so-called instant loan firms
One out of six who borrow from a consumer credit institution, previously called instant loan firms, receives a collection notice. Among all lenders, one out of five unsecured loans was approved for a person who does not have any money left after paying their monthly subsistence costs. Given the expected economic development – high inflation and higher interest rates – this percentage could increase to every third borrower. All of these observations indicate that credit assessments are insufficient. This is the conclusion of a consumer credit survey that FI is presenting today.
Swedish Consumer Credit
A large portion of Swedish households’ loans is for their homes. But the households also use loans to finance some of their consumption. Consumption credit has grown rapidly in recent years. In terms of SEK, unsecured loans represent the largest share of consumer credit. In terms of volume, invoices are the most common form of consumer credit. These are some of the conclusions from Finansinspektionen’s (FI) survey of new consumer credit with data from 2021.
SIP Nordic receives a warning and an administrative fine
SIP Nordic Fondkommission AB (SIP Nordic) is receiving a warning and must pay an administrative fine of SEK 6.7 million.
Celina Fondförvaltning receives warning and administrative fine
Celina Fondförvaltning AB (Celina) is receiving a warning and must pay an administrative fine of SEK 10 million.
Do you need insurance for your new TV?
When purchasing a mobile telephone, TV or appliances, for example, you often receive an offer to buy insurance for the newly purchased item. FI will now review whether so-called product insurances create unnecessary costs for customers without providing extra protection.
Do loyal policyholders pay more?
Finansinspektionen has analysed whether loyal policyholders pay higher premiums for the three non-life insurance products that are most important for consumers: home insurance (contents), home insurance (building) and private car insurance. The analysis shows that premiums for home insurance (contents) are raised significantly more for loyal customers than for new customers. The premiums for home insurance (building) also are raised more for loyal customers, but this does not apply to private car insurance.
Svea Bank receives a remark and an administrative fine
Svea Bank is being issued a remark and must pay an administrative fine of SEK 45 million.
Resurs Bank receives a remark and an administrative fine
Resurs Bank is being issued a remark and must pay an administrative fine of SEK 50 million.
Svea Bank and Resurs Bank receive remarks for insufficient credit assessments
Svea Ekonomi, which has now merged with Svea Bank, and Resurs Bank have been deficient in their credit assessments of consumers who received large unsecured loans. Both banks are therefore receiving a remark and an administrative fine of SEK 45 million and SEK 50 million, respectively.
FI would like to see data on declined bank accounts
Finansinspektionen views seriously the complaints from consumers who have been denied a bank account, and the authority is now encouraging banks to carefully maintain data on how many people are experiencing problems opening an account. This data will give a clearer overview of the situation and help find solutions.
Nordnet Bank receives a remark and an administrative fine
Nordnet Bank is being issued a remark and must pay an administrative fine of SEK 100 million.
Nordnet receives a remark and an administrative fine
Finansinspektionen (FI) is issuing Nordnet Bank AB a remark for violations related to the bank's intraday short selling service. Nordnet must also pay an administrative fine of SEK 100 million.
