FAS suspected Alfa Bank of violating the law due to credit card advertising

The Federal Antimonopoly Service (FAS) opened a case against Alfa Bank on grounds of violation of advertising legislation. The case was based on a credit card advertisement. According to the FAS, Alfa Bank advertised the credit card, indicating important information in small print.

As they say in message departments, in the advertisement, Alfa Bank placed “all material information” in explanatory footnotes in small print, and these footnotes were shown for a very short time. And, on the contrary, information about the annual interest-free use of the card and 100% cashback for the first purchase was indicated in large font in the video.

The FAS found that since essential information was indicated in small print, the consumer could not obtain everything necessary for an informed choice. “If the essential conditions for the provision of a financial service are formally present in the advertisement, but cannot be perceived by the consumer, they are not communicated to him properly,” the agency ruled. Thus, the FAS considered that such advertising could mislead consumers

In addition, another advertisement said that “Alfa Bank is the best mobile bank,” and then there was a footnote: “According to Markswebb.” However, the footnote was also indicated in small print, and it was shown for a short time. As a result, such an assessment cannot be called objective. In this regard, the FAS will check Alfa Bank’s commercials for violations of advertising laws.

Anastasia Larina