FAS opened a case against Sberbank due to violation of the law on advertising
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Federal Antimonopoly Service (FAS) of Russia excited case against Sberbank (MOEX: SBER) on grounds of violation of advertising legislation. The FAS found that consumers received incomplete information about all deposit conditions from advertising by a credit institution due to the size of the font used.
A complaint about Sberbank advertising, which was presented on advertising structures in Moscow, was received by the FAS from one of the citizens. In it, information that was attractive to consumers about the deposit rate of 12% per annum was indicated in large font, and the conditions affecting the receipt of income on the deposit were placed in an explanatory footnote in a difficult-to-read font, the FAS clarified. “Thus, consumers received incomplete information about all the conditions that determine the amount of income of depositors,” the FAS concluded.
For violations of advertising legislation, the FAS has already fined Sberbank in May 2023. The reason for initiating the case was an advertisement for a loan, in which the conditions for obtaining a reduced interest rate were indicated in small print. For violating the law on advertising, the FAS ordered Sberbank to pay 600 thousand rubles.
About other FAS claims against the credit institution – in the Kommersant FM article “Sberbank called the shots”.
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