Cashback terms should be fully disclosed by banks: recommendations from the Bank of Russia and the FAS

News Financial services Guidance

Date: 11th Dec, 2024 Source: The Investigative Committee of Russia Country: Russia Original Source

Brief

"On November 12, 2024, the Bank of Russia and the Federal Antimonopoly Service issued a joint recommendation to credit organizations. They stressed that cashback terms should be fully disclosed to potential clients, including maximum limits, minimum purchase requirements, and specific product conditions, to avoid misleading advertising and competition law violations."

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The Investigative Committee of Russia

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Cashback terms should be fully disclosed by banks: recommendations from the Bank of Russia and the FAS

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Cashback terms should be fully disclosed by banks: recommendations from the Bank of Russia and the FAS

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The Investigative Committee of Russia

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