The President of the Polish competition authority, Tomasz Chróstny, has raised allegations against two loan companies, Aasa Polska and CAPITAL Service, along with an intermediary, Infostom, for their practices involving the sale of additional paid services alongside consumer loans. These practices have been deemed misleading, as consumers were often unaware of the true costs associated with these additional services.

These additional services, known as Value Added Services (VAS), were presented as attractive enhancements to the loan offers. However, they primarily served to maximize profits and circumvent statutory limits on loan costs. Consumers reported that they were not adequately informed about the terms and costs of these services, leading to increased total repayment amounts.

Aasa Polska was specifically noted for presenting loan amounts that included the costs of additional services, which misled consumers into believing they were receiving a better deal. Complaints indicated that the company conditioned loan approvals on the acceptance of these additional services, further complicating the borrowing process for consumers.

Similarly, CAPITAL Service was accused of failing to inform consumers about the total loan amounts during sales calls, leading to confusion regarding the inclusion of additional service agreements. The company’s practices resulted in loan costs exceeding legal limits, raising significant concerns about consumer protection.

Infostom, the intermediary, was also implicated for not providing clear information about the additional services bundled with loans, which led to consumers being unaware of the financial implications of these agreements. The authority has initiated investigations into these practices, which could result in fines of up to 10% of the companies' annual revenues if the allegations are confirmed.