Danske Bank begins indemnifying debt collection errors

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Law360, London (June 30, 2021, 4:05 p.m. BST) – Danske Bank A / S said on Wednesday it had paid a total of 36 million Danish kroner ($ 5.7 million) to customers overcharged by its debt collection system. , and said up to 15,000 more people could be compensated.

Information technology problems in the lender’s debt collection program have forced thousands of customers to overpay their outstanding debts over several years. Denmark’s largest lender said it has repaid at least 6,300 people, but has warned that the data errors are so complex that it will not be able to finalize the number to be repaid until 2022.

“We have…

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