16.12.2025, 15:01
The State Duma has tightened penalties for violations of the rights of consumers of financial services
Source: OREANDA-NEWS
OREANDA-NEWS The State Duma adopted in the second and third readings a law toughening the responsibility of banks for systematic violations of the rights of consumers of financial services and failure to comply with the instructions of the Central Bank to eliminate such violations.
The document is aimed at increasing the level of protection of the rights of consumers of financial services and preventing violations of the law by banks of the Russian Federation by increasing fines for such violations.
Currently, fines for violations of federal laws and regulations of the Central Bank in the field of consumer protection of financial services, as well as for non-compliance with its regulations on their elimination, are set based on the size of the authorized capital of a credit institution and may not exceed 1 million and 10 million rubles, respectively.
According to the explanatory note, this does not have a proper impact on banks, since their benefits from illegal actions in the consumer market can significantly offset the negative effects of the Central Bank's sanctions.
In this regard, the law establishes such fines based on the size of the credit institution's own funds and introduces minimum fines instead of the maximum.
As a result, the fine for violating relevant laws and regulations will be up to 0.1% of the credit institution's own funds, but not less than 100 thousand rubles, and for non-compliance with the instructions of the Central Bank within the prescribed period - up to 1% of the bank's own funds, but not less than 1 million rubles.
When deciding on the collection and amount of the fine, the Bank of Russia will take into account the nature of the violations committed by the bank. Andrey Medvedev, head of the Central Bank's legal department, explained last week that the magnitude and multiplicity of violations will be taken into account without fail: in other words, banks are supposed to be fined not for a single one, but for systematic violations of the Central Bank's laws and regulations.
The document is aimed at increasing the level of protection of the rights of consumers of financial services and preventing violations of the law by banks of the Russian Federation by increasing fines for such violations.
Currently, fines for violations of federal laws and regulations of the Central Bank in the field of consumer protection of financial services, as well as for non-compliance with its regulations on their elimination, are set based on the size of the authorized capital of a credit institution and may not exceed 1 million and 10 million rubles, respectively.
According to the explanatory note, this does not have a proper impact on banks, since their benefits from illegal actions in the consumer market can significantly offset the negative effects of the Central Bank's sanctions.
In this regard, the law establishes such fines based on the size of the credit institution's own funds and introduces minimum fines instead of the maximum.
As a result, the fine for violating relevant laws and regulations will be up to 0.1% of the credit institution's own funds, but not less than 100 thousand rubles, and for non-compliance with the instructions of the Central Bank within the prescribed period - up to 1% of the bank's own funds, but not less than 1 million rubles.
When deciding on the collection and amount of the fine, the Bank of Russia will take into account the nature of the violations committed by the bank. Andrey Medvedev, head of the Central Bank's legal department, explained last week that the magnitude and multiplicity of violations will be taken into account without fail: in other words, banks are supposed to be fined not for a single one, but for systematic violations of the Central Bank's laws and regulations.
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