Nordea Faces Class Action in Norway Over Tenant Deposit Interest Rates

08:52 AM EDT, 10/16/2026 (MT Newswires) -- The Norwegian Consumer Council and the Norwegian Tenants' Association filed a class-action lawsuit against Nordea Bank (NDA-DK.CO, NDA-FI.HE, NDA-SE.ST) over allegedly illegally low interest rates on tenants' security deposit accounts. The groups alleged that Nordea's rates failed to comply with Norway's Tenancy Act on standard interest rate terms, according to a Friday release. Many tenants would have received a much higher return on their deposits had they stored their money in standard savings accounts, the groups added. Nordea could face claims of up to 40 million Norwegian kroner from the case.