The State Duma will prioritize consideration of the project on the cooling-off period for loan issuance

The State Duma (GD) will prioritize consideration of a bill proposing to introduce a so-called cooling-off period when granting a loan to a bank client. This was announced by the chairman of the State Duma Vyacheslav Volodin on December 25.

"To protect citizens from fraudsters, a bill has been developed and submitted to the State Duma, which proposes to establish a cooling off period when granting a loan <...>. We will consider the bill as a priority," he wrote in his Telegram channel.

Volodin explained that the cooling period will be four hours for loans of Br50-200 thousand and 48 hours - for the amount of more than Br200 thousand. During this time, there will be no financial transactions. The introduction of such intervals is necessary for the bank client to think more carefully about whether he needs a loan and whether he is able to repay it. In addition, a person will be able to discuss his actions with relatives and friends.

Volodin pointed out that the cooling-off period will protect Russians from fraudsters who force them to take out loans. The Chairman of the State Duma reminded that in 2024 such miscreants stole more than 250 billion rubles from Russians.

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Earlier, on December 19, Russian President Vladimir Putin during the "Results of the year" called on banks to check the solvency of customers before granting a loan. The head of state noted that before deciding whether to issue money, banks need at least a few hours to check the information about the client, if the amount is 50-200 thousand rubles, in the case when it is even more, credit organizations need a few days. Putin shared that his acquaintances also received calls from scammers, and urged all Russians to hang up the phone in case of contact with attackers.

On December 18, Anatoly Aksakov, head of the State Duma Committee on Financial Markets, told Izvestia that there is no disagreement among the authorities on the introduction of a cooling off period for lending and, in all likelihood, the bill will be adopted in the first half of 2025.