In Russia, fines for incorrect display of data on the total cost of a loan (FLC) in advertising of banking products can be doubled. The government will discuss the relevant draft law at the meeting of the Legislative Activities Committee (KLA) on Monday, February 5. The newspaper writes about this “News”citing documents to the CPA and a source in the cabinet.
According to the publication, this document was prepared by the Ministry of Justice and has already been adopted by the Ministry of Finance, the Ministry of Economy and the Federal Antimonopoly Service.
It is stated that the liability should include, among other things, the requirement to display the PSC range if any advertisement mentions the loan interest rate. If the bill is passed, penalties for incorrectly stating PSC in loan advertisements may increase from 40 thousand to 100 thousand rubles. for officials and from 600 thousand to 1.6 million rubles. for banks.
Currently, penalties for incorrect display of data on the full cost of a loan in advertising of banking products range from 20 thousand to 50 thousand rubles. for officials and from 300 thousand to 800 thousand rubles. for legal entities.
Before that, banks and microfinance organizations in the Russian Federation compulsory Show not only the minimum but also the maximum rate in loan advertisements.
Russians before warned About the risk of accumulating debt even on an unused credit card.