FAS opened a case against Alfa Bank over mortgage advertising – Kommersant

The Federal Antimonopoly Service (FAS) opened a case against Alfa Bank on grounds of violations in mortgage advertising, reports press service departments. This is the third case initiated by the FAS against the bank since the beginning of the year.

According to the FAS, Alfa Bank’s radio advertisement stated that the mortgage rate was 5.6%, and the limit when buying an apartment in a new building was up to 30 million rubles. However, “other essential conditions, such as the term, interest rate framework and the availability of a down payment were not announced.” The advertisement also claimed that the product of Alfa-Bank JSC is “the best mortgage in Russia” “without specifying objective criteria for comparing the service.”

In February FAS excited case against Alfa Bank due to false information in advertising about the abolition of acquiring fees. We were talking about advertising aired on federal channels. At the beginning of April, the FAS complaints arose arose from an advertisement for the bank’s loyalty program, which was also shown on TV. The credit institution faces a fine for violations.

Read about the rules for advertising loans in the Kommersant article. “Conversation in elevated fonts”.

Laura Keffer