In Russia, a planned rule would bar banks from entering into accounts for minors aged 14 to 18 without the written consent of their legal representatives, such as parents or adoptive parents. The draft law was prepared by State Duma deputies Sergei Neverov and Natalya Kostenko and has earned government approval. The Central Bank of the Russian Federation is reported to back the proposal, according to the newspaper News.
Sources indicate that the document could be submitted to the State Duma on Wednesday, March 20, with Neverov signaling that the action would be taken in the near future. The publication frames the move as a measured step to strengthen protections for young people in financial matters and to ensure that guardians actively participate in creating and managing banking relationships for minors.
Izvestia notes that the bill amends Article 846 of the Civil Code and Article 26 of the Federal Law On Banks and Banking Activities. The updated Civil Code provision would state that banks are not authorized to conclude bank account contracts with minors aged 14 to 18 without the written consent of their legal representatives, reinforcing the requirement for parental or guardian involvement in such contracts.
The second part of the proposed amendments to the Law On Banks and Banking Activities addresses certificates related to accounts and deposits held by young people aged 14 to 18. The bill specifies that credit institutions must furnish these documents to the minors themselves and to their legal representatives, ensuring that account documentation remains accessible to guardians as part of oversight and protection.
Earlier reports touched on a separate incident involving an error that led to the deposit of eleven million dollars into a young man’s bank account. The situation drew scrutiny over the handling and oversight of significant sums deposited into junior accounts and highlighted the importance of clear procedures for minors’ financial matters.