FAS fined Pochta Bank 500,000 rubles for small print in advertising

The Federal Antimonopoly Service (FAS) fined him 500,000 rubles. Post Bank JSC for small print in advertising about the conditions for obtaining a loan, the department reported.

The FAS clarified that the bank advertised a loan interest rate of 4% for the “Guaranteed Rate” service on a roller display in Moscow, but information about the conditions affecting the cost of the loan, as well as the possibility of participating in the promotion, was indicated in the footnote “difficult for perception of the font within a short time”, so consumers received incomplete information.

As a result, the FAS recognized the advertisement as improper under Part 3 of Art. 28, part 7 art. 5 of the Law “On Advertising” and issued an order to the credit institution to stop the violation.

Based on the same fact, a case of administrative offense was initiated under Part 6 of Art. 14.3 of the Code of Administrative Offenses of the Russian Federation (maximum fine for legal entities – 800,000 rubles). Having considered it, the FAS imposed a fine of 500,000 rubles on Pochta Bank.

In the spring of FAS fined for similar violations Sberbank and Otkritie Bank. Credit institutions indicated important information in advertising in small print, which is why consumers did not receive complete information about all its conditions.