French bank cancels customer debts
05 Mar 2012
A 375-year-old French bank has dropped the debts of customers who owed less than €150
Crédit Municipal de Paris, an institution offering small, low-interest loans against inexpensive valuables, announced a one-time cancellation of the debts of 3,500 customers to mark its 375th birthday.
The action was applied to the accounts of customers who owed less than €150 (£125).
The bank said that the economic crisis has resulted in a 30% increase in customers.
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