The Bank of Russia revealed cases of registration of microloans under the guise of loans

The Bank of Russia has identified cases of microloans issued under the guise of bank loans. On April 17, the regulator informed about this on its official website.

"In their remote channels, banks offer citizens to borrow funds, but they do not inform them which contract will be concluded and with whom — with the bank or its subsidiary microfinance organization," the press service of the Central Bank noted.

It is clarified that in the framework of the scheme, information about the concluded contract is either not provided, or it is incomplete. Because of this, consumers do not understand what exactly they have been approved, a loan or a loan, and on what terms. In this case, the bank substitutes the customer's choice, and this, in turn, undermines confidence in the financial market, the Bank of Russia emphasized.

The Central Bank has encountered the issuance of microloans under the guise of bank cards in six organizations, two of which are systemically important. The regulator has sent demands to banks to change their approaches to informing customers. He also set a single deadline for completing the request.

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