Nordea is being sued by the Norwegian Consumer Council (Norway’s consumer protection body) for failing to pay interest compensation to its customers.
Thousands of customers have missed out on several million Norwegian kroner in compensation after the bank offered zero interest on their accounts, according to the Consumer Council.
"The bank has made large amounts of money by offering interest rates that are far too low. Now it is time for the bank to be held responsible for those losses," Director General Mette Fossum told the newspaper Dagens Næringsliv.