Overview
- Germany’s financial supervisor reported that a 2024 special audit and the 2024 annual-account review uncovered serious deficiencies in risk management, complaints handling, and the organization of the credit business.
- A special commissioner has been appointed to monitor N26’s remediation and report back to the authority.
- BaFin raised N26’s own-funds requirements and barred the bank from originating new mortgages in the Netherlands and from securitizing those related claims.
- The measures are legally effective as of 10 and 13 December 2025, marking an escalation following earlier enforcement such as fines and growth limits.
- N26 said it is cooperating with supervisors and advancing governance, process, and control reforms begun in early 2025; the bank operates in 24 countries with about 4.8 million revenue-relevant customers at end-2024.