The Russian Federal Antimonopoly Service (FAS) filed the first lawsuit for violation of new rules on advertising credits. The newspaper reports this “News”.
The publication reminded that since October 23 last year, banks must indicate in advertisements, in addition to the attractive loan rate, the full cost range, taking into account all additional costs. The Pochta Bank advertisement contained interesting information about loan interest rates in capital letters, but there was no data on the exact cost range of the loan. In this context, FAS filed a lawsuit against Pochta Bank for violating the advertising law. If a violation is detected, the bank will be held administratively responsible.
Currently, fines for incorrect display of information 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.
It was previously reported that Russia may increase penalties for banks for dishonest sales of financial services.
Formerly Central Bank of the Russian Federation raised key rate up to 16%.