The Bank of Russia began to complain more

At the end of 2022, 368,000 claims were sent to the Bank of Russia from consumers of financial services and investors, 72% of which were in the first half of the year. This is 18% more than a year earlier.

The bulk of the complaints fell on the share of credit institutions (banks, etc.) and concerned restructuring, credit holidays, as well as foreign currency transfers and withdrawals from accounts. Wherein The Bank of Russia notes decrease in the number of applications on consumer lending by 20.6% and mortgage lending by 10.7%. This is due to the conduct of behavioral supervision by the regulator over the execution by Russian banks of the federal law against the imposition of paid services at the time of signing loan agreements by clients of credit institutions.

Thus, according to the amendments to the law "On consumer credit (loan)", which entered into force on December 30, 2021, banks are prohibited from imposing additional paid services. According to the changes, behind which the Bank of Russia conducts behavioral supervision in the banking sector, borrowers have the right to return money for any services related to a loan or loan within two weeks from the date of signing the loan agreement. The implementation of these amendments to the law and the supervision of its implementation made it possible to reduce the number of complaints to the Bank of Russia in the field of consumer lending.