The results of monitoring the maximum interest rates of credit organizations

News Financial services Reports

Date: 13th Mar, 2025 Source: Central Bank of Russia Country: Russia Original Source

Brief

On March 13, 2023, the Federal Antimonopoly Service and the Bank of Russia issued a joint letter to credit organizations. The letter highlights concerns about misleading advertising practices by banks, particularly regarding cashback promotions. Creditors often emphasize the size of cashback offers but fail to disclose essential conditions, such as maximum limits, purchase thresholds, or restricted product types, potentially constituting unfair business practices and consumer deception.

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Central Bank of Russia

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The results of monitoring the maximum interest rates of credit organizations

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The results of monitoring the maximum interest rates of credit organizations

Brief

Central Bank of Russia

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