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The term of unsecured loans may be shortened in Russia

A bill to limit the period for issuing an unsecured loan has been submitted to the lower house of parliament. It is proposed to reduce the term of such loans to five calendar years. Additionally, the document contains a legal development on changing the procedure for calculating the full cost of a loan product, as well as an obligation for banks not to impose additional services on borrowers. It was proposed to make an exception for consumer loans, which are provided for the provision of state or...

Modified: 12.29.2021
State Duma , State Duma of the Russian Federation , bill , consumer credit , bank , credit agreement , initiative
Path: РусБанкрот - СМИ
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