Banco Macro S.A. Confronts Class Action Suit

Banco Macro SA (BMA) has released an update.

Banco Macro S.A. has announced that it is facing a class action lawsuit over the ‘Monthly Account Statement’ fee charged to checking accounts in Buenos Aires. The plaintiff is seeking nullification of the fee and reimbursement of all such fees collected, with interest. However, Banco Macro S.A. has stated that they believe the likelihood of an unfavorable outcome is low and that it would not materially impact the bank’s assets.

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