The Bank of Russia has adopted a number of decisions on banking regulation

News Financial services Guidance

Date: 16th Dec, 2024 Source: Central Bank of Russia Country: Russia Original Source

Brief

"On 16/12/2024, the Federal Antimonopoly Service and Bank of Russia issued a joint letter to credit organizations. The letter highlighted concerns regarding the transparency of cashback promotions, specifically emphasizing that banks should clearly inform potential customers about limitations, such as maximum cashback amounts, minimum purchase requirements, and specific product restrictions. Failure to do so may be considered deceptive marketing practices."

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Central Bank of Russia

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The Bank of Russia has adopted a number of decisions on banking regulation

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