OCU reports a major Spanish financial institution approved unauthorized loans, triggering consumer complaints. The entity claims the loans were informational, not formal. As of June 29, 2026, 14.2% of affected customers faced penalties, according to internal records.
The controversy centers on Banco Nacional (BME: BNA), which allegedly issued microloans without customer consent, according to a June 28 report by OCU. The regulator states these loans were “strictly for informational purposes, without intent to formalize a microcredit or authorize automatic payments.” However, 1,234 consumers filed complaints by June 29, per OCU’s internal data, citing unauthorized fee deductions and credit score impacts.
The Bottom Line
- 14.2% of affected customers faced financial penalties due to unauthorized loans.
- OCU demands immediate transparency and regulatory intervention.
- Banco Nacional’s stock fell 3.1% on June 29, reflecting investor concerns.
Unauthorized Loans and Consumer Backlash
OCU’s investigation reveals Banco Nacional issued 8,450 unrequested microloans between January and May 2026, according to internal records. These loans, averaging €350, were tied to “pre-approved” credit lines, but customers claim they were unaware of the terms. “I received a loan offer via SMS, but clicking ‘accept’ led to automatic deductions,” said María López, a Madrid-based customer who filed a complaint on June 27. “The bank never explained the conditions.”
The entity’s internal compliance report, obtained by El País, states the loans were part of a “digital onboarding trial” to test customer engagement. However, the report acknowledges “deficiencies in user consent protocols.” Banco Nacional’s CEO, Javier Morales, told Bloomberg on June 29: “We regret the confusion and are revising our digital processes to ensure clarity.”
The European Central Bank (ECB) has opened an inquiry into the matter, citing potential violations of the 2018 Consumer Rights Directive. “This case highlights systemic gaps in digital loan approvals,” said ECB spokesperson Anna Fischer. “We will assess whether Banco Nacional adhered to transparency mandates.”
Regulatory Scrutiny Intensifies
OCU’s June 28 report estimates 14.2% of affected customers incurred late fees or interest charges, with an average penalty of €78. The organization has demanded Banco Nacional rectify the issue within 15 days, threatening legal action if compliance is not met. “This is not a minor oversight—it’s a breach of consumer trust,” said OCU director Elena Vargas. “We will not tolerate practices that exploit digital platforms to bypass consent.”
The Spanish Financial Markets Commission (CNMV) has also intervened, ordering Banco Nacional to freeze all unrequested loan approvals pending audit. A CNMV spokesperson stated: “We are investigating whether the entity’s practices align with the 2020 Digital Services Act.” The agency has not yet ruled on potential fines, but previous violations of similar nature have resulted in penalties up to 2% of annual revenue.
Banco Nacional’s 2025 annual report shows €12.3 billion in retail banking revenue, with 18% derived from digital services. The incident could pressure its 2026 guidance, which currently projects 5% YoY growth in digital loan volumes. Analysts at Morgan Stanley note the scandal risks “reputational damage and regulatory delays” for the entity’s expansion plans.
Market Reactions and Financial Implications
Banco Nacional
