The expert spoke about the plans of the State Duma to protect Russians from microloans

The new draft law, which will be considered on September 23, introduces a three-day pause between the repayment of one microloan and the issuance of a new one. As Anatoly Aksakov, chairman of the Financial Market Committee, told Izvestia, this measure is designed to prevent the renewal of old debts on new terms, which are often less profitable for borrowers.

An interesting story: Russians will be banned from taking out more than one loan from an MFO starting in 2026.

How will the authorities prevent the mass transfer of citizens to "black" creditors

"In addition, starting in 2027, microfinance organizations will be prohibited from issuing more than one loan to citizens with a full cost of over 100% per annum," he said.

During the transition period from July 1, 2026 to January 1, 2027, the limit will be two loans with a total value of no more than 200%.

"Currently, there are no such restrictions," he recalled.

It is specified that the Bank of Russia will be able to adjust these indicators depending on market conditions. The innovations are not aimed at the microloan market, but are designed to reduce the chance of citizens falling into a debt spiral, especially in the regions.

Earlier on September 17, this bill received the support of the State Duma Committee on the Financial Market for consideration in the first reading. Parliamentarians want to put up a barrier to MFIs that formally comply with the law, but continue to use hidden loan refinancing schemes. Instead of stopping the accrual of interest on the repaid debt, they issue a new loan to the client.

Read the details in the Izvestia article:

Think three times: The State Duma is attacking the microcredit market with a new law