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Competitors examine business following scandalous Danske Bank case

In the aftermath of the Danske Bank fee scandal, sector peers are investigating whether their own customers pay excessive fees without any real prospects of a return. According to Danish Financial Supervisory Authority Director General Jesper Berg, new EU regulation has led banks to look for new income opportunities.

Photo: Ritzau Scanpix/Mads Claus Rasmussen

On Monday, Danske Bank was revealed to have sold investment products with an expected return after fees below the zero interest rate of a deposit account to its customers. In practice, the bank has advised customers to purchase a product which the bank expected to yield a negative return.

We don't sit down for a systematic review, but we ensure people base their advice on the customer.

Arbejdernes Landsbank CEO Gert Rinaldo Jonassen

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