Spain’s National Commission on Markets and Competition (CNMC) has launched an investigation into six of the country’s largest banks – Santander, BBVA, CaixaBank, Sabadell, Bankinter, and Unicaja – regarding potential anti-competitive practices related to fixed-rate mortgages. The probe centers on statements made by bank executives which the CNMC believes may have signaled an intention to coordinate commercial policies, effectively anticipating competitors’ moves. This could constitute a violation of Spanish competition law. The CNMC has opened a sanctioning file, indicating a formal investigation that could lead to fines if wrongdoing is established. The regulator alleges the banks potentially colluded to influence the market for fixed-rate mortgages. The investigation will examine whether these statements impacted market competition and consumer choice. No further details regarding the specific statements or the extent of the alleged collusion have been released at this time.