OREANDA-NEWS  The bill, which allows through the portal "Public Services" to establish a ban on loans and loans, has passed interdepartmental coordination, the Central Bank (CB) reported. The document is being prepared for submission to the State Duma. The regulator did not name the timing of the introduction.

The Central Bank announced the preparation of the project in June 2022. The authorities expect that thanks to this mechanism, citizens will be able to avoid situations when fraudsters apply for a loan or loan in their names. "The bill fixing the mechanism of self—locking on loans and loans has passed interdepartmental approval, received conceptual support from the market and is being prepared for submission to the State Duma," the Central Bank told RIA Novosti.

Alexey Voilukov, Vice President of the Association of Banks of Russia (ADB), said that banks "conceptually agree" with the initiative. He clarified that in order to implement it, it will be necessary to amend the laws on credit histories and on consumer credit. "Citizens will be able, by going to the "Public Services", to impose a ban or restriction on obtaining loans or loans. The issued self—lock on "Public Services" will automatically get into the credit history bureau," he added.

According to the idea, the self-lock will need to be entered into your credit history. Banks and microfinance organizations will check it before issuing a loan. Financial market participants said that they generally support the initiative.