In a major escalation targeting the financial sector, Poland’s Office of Competition and Consumer Protection (UOKiK) has conducted surprise searches at the headquarters of the Credit Information Bureau (BIK) and three major commercial banks. Backed by court approval and police assistance, antitrust officials raided the offices of BIK, ING Bank Śląski, mBank, and mBank Hipoteczny to secure evidence regarding potentially anti-competitive data-sharing models.
The sweeping investigation, initiated by UOKiK President Tomasz Chróstny, focuses on whether the banking sector’s proprietary credit worthiness assessment rules artificially restrict competition, particularly in the mortgage market. At the heart of the probe is BIK, a private entity uniquely positioned as Poland’s sole comprehensive credit history clearinghouse, owned jointly by the Polish Bank Association and nine commercial banks.
Regulators are specifically scrutinizing how banks share and use data regarding credit inquiries. Under the current long-standing system, every time a consumer shops around and asks a bank for a mortgage quote, an inquiry is logged. This data sharing can systematically lower a consumer’s credit score. Consequently, a rational consumer who compares multiple bank offers to find the best rate can end up with a worse credit rating than someone who blindly accepts the first offer from their home bank.
UOKiK is investigating whether this practice penalizes financially conscious consumers and actively discourages them from shopping around, which effectively shields banks from healthy price competition. Furthermore, the watchdog is examining whether BIK has abused its monopoly position by collecting and processing this specific inquiry data in a way that harms both consumers and fair market play.
Chróstny emphasized that a conscious consumer must not be punished with a reduced credit capacity simply for seeking out the best financial terms. He stressed that while data exchange is necessary for risk management, it should serve the market rather than acting as a tool to stifle competition between lenders.
The current proceedings are exploratory, meaning they are conducted in the matter itself rather than being directed against specific entities. However, if the seized evidence confirms the antitrust suspicions, UOKiK can launch formal anti-monopoly proceedings. Under Polish law, companies found guilty of anti-competitive practices face severe financial penalties of up to ten percent of their annual turnover.