THE FAS FINED FC OTKRITIE 700 THOUSAND RUBLES.

The Federal Antimonopoly Service (FAS) fined FC Otkritie Bank for improper advertising of consumer credit. The credit institution did not name the essential conditions, which was misleading to potential customers.

The advertisement for FC Otkritie talked about a 4% rate and an amount of up to 5 million rubles on a loan, which attracted consumers very much. However, other important terms of the offer were not specified, according to the FAS press service.

The Antimonopoly Service initiated proceedings against FC Otkritie on grounds of violation of the Law on Advertising and fined the bank 700 thousand rubles.