CAK flags 12 banks with hidden mortgage charges

central bank of kenya cbk
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Business Daily | by Otiato Guguyu


Home loan borrowers could get better terms after the competition watchdog directed 12 banks to revise their terms and conditions, citing hidden charges or skewed contracts against their clients.

The Competition Authority of Kenya (CAK) reviewed home loan contracts for 27 banks and found the information provided to consumers by 12 of them was incomplete, unclear, and unfavourable…

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