Banks in Romania drop plans to hike fees after talks with PM Ciolacu

Prime minister Marcel Ciolacu announced that, following the meeting held with the Romanian Association of Banks and the representatives of the most important banks in Romania, an agreement was reached so that bank fees would not increase.

The PM stepped in to prevent a general rise in bank fees supposedly prompted by the authorities' decision to restrict cash payments. The restrictions themselves will be reconsidered.

"This is the agreement we reached today with the Romanian Association of Banks and the representatives of the most important banks in Romania, but also with the National Bank of Romania (BNR). I am glad that our reasoning presented was fully understood, and I thank them for remaining open for dialogue," Marcel Ciolacu wrote on his Facebook page.

Banca Transilvania had publicly announced that it decided to increase almost all fees, which prompted PM Ciolacu to accuse banks of "greed." According to Economica.net, Banca Transilvania had not increased its fees for the past two years.

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(Photo source: Facebook/Marcel Ciolacu)