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ABN Amro Hit With Fine For Bad Financial Advice

Law360 (December 13, 2010, 12:50 PM EST) -- Dutch-owned ABN Amro Bank NV said Monday it had been fined a total of €30,000 ($40,160) as a result of an investigation launched by a Dutch regulator into how large banks in the Netherlands advise their clients on mortgages, becoming the country’s second bank in recent months to be hit with a fine as a result of the investigation.

The Netherlands Authority for the Financial Markets looked into a total of 16 cases at ABN Amro between January 2009 and Sept. 15, 2009, concluding that in...
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