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THE FEDERATION COUNCIL APPROVED FINES OF UP TO 1.6 MILLION FOR "INCORRECT" ADVERTISING OF LOANS

The Federation Council has approved a law providing for tougher liability for banks and microfinance organizations for advertising loans in violation of the law. The initiative also establishes responsibility for spam calls. Employees of banks and microfinance organizations who do not indicate the full cost of consumer credit in advertising face a fine of 40 to 100 thousand rubles. And the legal entities themselves will have to pay from 600 thousand to 1.6 million rubles. The distribution of advertising through spam calls will cost citizens 10-20 thousand rubles in fines, officials - 20-100 thousand,...

THE MINISTRY OF JUSTICE WANTS TO INTRODUCE NEW FINES FOR COLLECTORS

... absence of records of telephone conversations with the debtor; • for non-compliance with the requirements of the legislation defined for a collection, credit or microfinance organization; • for violating the general rules of performing actions aimed at ... ... the use of one or more ways of interacting with the debtor. As Vladimir Gruzdev, Chairman of the Board of the Association of Lawyers of Russia, told Rossiyskaya Gazeta, these amendments will improve the mechanism for protecting debtors from illegal actions ...

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