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Danish watch dog scrutinizes banks for pressuring savings into investments

Danish bank customers are pressurized into investing their savings – even if it may not be the right fit for them, according to criticism. This brings the Danish FSA to the fore.

Photo: Lars Krabbe/IND

As negative interest rates are becoming increasingly common, many consider investing their savings, instead of leaving them in a bank account, but banks are being criticized for pressurizing their customers, according to Danish newspaper Berlingske.

"My hunch is – and has been for a while – that a certain amount of sales pressure or advisory pressure is exerted to talk Danes into investing more," Professor of Finance at Aarhus University and Chairman of the Money and Pension Panel, Carsten Tanggaard, tells the newspaper.

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