FAS fined Sberbank for inappropriate car loan advertising

The Federal Antimonopoly Service (FAS) has fined Sberbank for illegally advertising a car loan. The press service of the antimonopoly authority reported on March 25 that the advertisement lacked important information about the conditions for providing financial services.

"Sberbank's advertisement was broadcast on a dynamic construction in Moscow and contained attractive information for consumers about an interest-free down payment, quick registration and the absence of additional insurance requirements. At the same time, some essential information about other conditions affecting the cost of a car loan was missing," the FAS explained.

According to the agency, such actions mislead consumers.

In addition, the FAS filed a case against Sberbank, found its advertising inappropriate and issued an order on the need to eliminate the violation.

In connection with the placement of unfair car loan advertising, the FAS of Russia imposed a fine on the bank.

Earlier, on January 13, the FAS fined Alfa-Bank for improper advertising campaign with Yandex.Food. It was reported that the joint advertisement was distributed on the air of federal TV channels. The video contained information that was attractive to consumers about accruing 50% cashback when paying for an order in the Yandex service with any bank card.