The Central Bank is concerned about the concealment by banks of real rates on credit cards

The Central Bank of Russia has reported cases of violations of informing bank customers about the full cost of a credit card loan. The press service of the regulator told Izvestia about this on May 29.

In some cases, data on "plastic" was improperly disclosed on bank websites.

The law "On Consumer Credit (Loan)" establishes a list of conditions for the product that must be communicated to the customer, the Bank of Russia reminded. When cases of non-compliance with the requirements are identified, the regulator takes appropriate measures.

"As a result of the supervisory cooperation, the banks eliminated the violations," the Central Bank said.

The regulator is also facing complaints from Russians about banks due to the sharp accrual of interest on credit cards. However, based on the results of inspections, it often turns out that information about the terms of the product is provided in the internal documents of organizations that customers are introduced to before signing the contract, that is, legally, market players do not violate the law.

It is not uncommon for people to go into arrears due to a poor understanding of the terms of the contract, agrees Vladimir Chernov, analyst at Freedom Finance Global. The proper use of "plastic" is associated with many nuances, without which it is easy to fall into debt, he stressed.

Shadow payment: Overdue credit card debts jump to 110 billion

Customers have massive problems due to the opaque conditions of banks - why is the "golden age" of such cards behind us

Earlier, on May 29, Izvestia wrote that overdue credit card debts in Russia jumped to 110 billion rubles: customers are having massive problems due to the opaque conditions of banks.