By Avv. Renato Giuseppe Fiorentino, Studio Legale Fiorentino (Naples, Rome, Bari)
In 30 seconds
If you are in dispute with an Italian bank or financial intermediary, two questions come first: were interest and fees validly agreed and lawfully calculated (compound interest, usury), and were you properly informed before you invested? The answer depends on your contracts, account statements and investment documents, which a lawyer and, where needed, a technical expert should review. Several routes exist: a request for documents, a complaint, an ombudsman procedure, mediation and court. No result is guaranteed.
1. When a dispute with an Italian bank may arise
- Interest charged on interest (anatocismo) on a current account, loan or mortgage.
- Interest rates above the legal anti-usury threshold, including default interest.
- Investment products sold without clear information on risks and costs (bonds, shares, derivatives, insurance-linked products).
- Guarantees (fideiussioni) signed on standard bank forms, or accounts and credit lines closed or reported without a valid reason.
2. Compound interest (anatocismo)
Article 1283 of the Civil Code limits interest on interest. For bank accounts, Article 120 of the Consolidated Banking Act (TUB), as amended in 2013-2014, governs how interest may be calculated and when it may itself produce interest. Clauses and practices from earlier years can be challenged if they do not comply; the outcome depends on the contract and on the period involved.
3. Usury
Law 108/1996 sets a ceiling, the threshold rate, published every quarter; interest above it is usurious. Under Article 1815(2) of the Civil Code, no interest is due on a usurious loan. The Supreme Court (Joint Sections, judgment no. 19597/2020) held that the usury rules also apply to default interest. Whether a specific contract exceeded the threshold requires a technical calculation.
4. Investor protection
Intermediaries must follow the Consolidated Financial Act (Legislative Decree 58/1998) and the EU MiFID rules: clear information on risks and costs, and a check that the product suits your profile. If these duties were breached, the investor may claim damages or, in some cases, the annulment or termination of the contract. For retail investors, the Financial Disputes Arbitrator (ACF) at Consob offers an out-of-court route; the Banking and Financial Arbitrator (ABF) at the Bank of Italy handles banking disputes.
5. What to do first
- Gather the contract, account statements, the investor questionnaire, order slips and all correspondence.
- Ask the bank in writing for copies of the documentation; Article 119 TUB gives the customer this right.
- Have the figures recalculated by a technical expert before deciding.
- Choose the route: complaint to the bank, ombudsman, mediation (often required before court in banking and financial disputes under Legislative Decree 28/2010) or court. Limitation periods apply, so do not wait.
The best route for you
- Doubts about interest or fees on an account: request the documents and a technical recalculation first.
- Loss on an investment you did not understand: review the information you received and the questionnaire, then complaint or ACF.
- Loan or mortgage above the threshold: technical check of the rate, then negotiation or court.
- Guarantor of someone else’s debt: check the guarantee form and the bank’s deadlines.
What to do now: collect your contracts and statements and write down the dates. No route guarantees a result.
How Avv. Fiorentino can assist you
- Review of contracts, statements and investment documents.
- Out-of-court negotiation, mediation and court proceedings in Italy.
- Written fee estimate before the assignment begins; consultations by video call or at the offices in Naples, Rome and Bari.
Request an online consultationWhatsAppCall +39 347 5264190
Email: avv.renatofiorentino@gmail.com
FAQ
Can I bring a claim against an Italian bank from abroad?
Yes, through an Italian lawyer; a power of attorney can be signed remotely.
How long does a banking dispute take?
It depends on the route, the court and the documents; a reliable timeframe can only be given after reviewing them.
Do I pay before the assignment starts?
No fee is charged without a written fee estimate that you have accepted.
This content is informational and is not legal advice. Prepared with the support of AI tools under the responsibility of Avv. Renato Giuseppe Fiorentino.