Taipei Times
Date: Sep 28, 2016
By: Ted Chen / Staff reporter

EnTie Commercial Bank (安泰銀行) yesterday denied having collected NT$47 million (US$1.5 million) in unjust fees from a borrower before proceeds from a NT$1.29 billion loan were paid out in a dispute dating back to Dec. 25, 2014.

The bank was responding to a news conference held by Democratic Progressive Party caucus whip Wu Ping-jui (吳秉叡) on behalf of the borrower.

The borrower, a New Taipei City-based real-estate developer, said that its agreement with the bank stipulates that no fees would be required until the loaned funds are disbursed and utilized.

However, just six days after the agreement was finalized, the bank said that the fees must be paid to meet procedural requirements to cross over to the next fiscal year, or the borrower risked losing the line of credit.     [FULL  STORY]