Second-largest Spanish bank, BBVA, in whatÂ has been described as aÂ landmark ruling,Â has been found guilty of misleading advertising when offering customers foreclosed properties through printed publicity material.
The specific illegality refers to inserting a disclaimer at the bottom of the ads where it read as follows:
The information contained in this publicityÂ is not of a contractual nature as itÂ merely has informative purposes, being the promoter able toÂ freely modify the characteristics of the offer at any time.
According to theÂ Mercantile Court Number 2 in Madrid,Â this advertising is illegal and has to be removed.
Also, the bank will have toÂ post rectifying publicity in all BBVA branch windows throughout the country.