Regulation: Court ruling offers Spanish banks brief respite

The recent decision to keep a mortgage-tax burden on clients rather than banks hasn’t improved the longer-term regulatory environment for Spanish lenders – or their own image.

Pablo Iglesias, secretary-general of Podemos

Spain’s Supreme Court ruling on Tuesday that customers, not banks, should continue to pay taxes for taking out a mortgage is only a short-term respite in the general assault on Spanish banks and their image.

Protesters outside the court called for the banks to pay, with Pablo Iglesias – leader of the powerful left-wing party Podemos – criticizing the decision, saying on Twitter: “The banks have won and citizens have lost.”

A previous ruling by the court determining that the banks should cover the tax – paid by the borrower on mortgage loans and ranges from 0.5%

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