Collective lawsuits filed against 11 banks over zero floor

Ljubljana, 2 June - The NGO Zavod Kolektiv 99 has filed 11 collective lawsuits on behalf of consumers against banks over the zero-floor clause in their loan agreements, which means that if the reference Euro Interbank Offered Rate (Euribor) is negative, it is deemed to be zero. They demand EUR 159 million in damages and interests on late payment.