The European Commission has said that Spanish banks should repay customers in full , after they removed the minimum interest payment clauses from mortgages , according to reports . If applied , reports suggest these measures would be costly for Spain 's banks , at a time when they are struggling to generate revenue following a deep recession . Several lenders have already had their profit hit by removing such loans from mortgages ; however , the government believes they should go further and repay customers what they are owed in interest payments over the whole life of the loan .
The European Commission has said that Spanish banks should repay customers in full, after they removed the minimum interest rate clauses from mortgages, according to reports. If applied, reports suggest these measures would be costly for Spain's banks, at a time when they are struggling to raise revenue following a deep recession. Several lenders have already had their profit hit by removing such clauses from mortgages; however, the EU believes they should go further and repay customers what they are owed in interest payments over the whole life of the loan.