The Central Bank proposed introducing rules for online sales of deposits and loans – Kommersant
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The Central Bank of Russia proposed establishing rules for online sales of deposits and loans to improve the quality of financial services. This was stated in the regulator’s report for public consultation (.pdf).
“Financial institutions must fully and clearly disclose information about both the main financial product and additional services, and inform clients about the risks,” the document says.
The report states that the Central Bank conducted a survey among consumers about customer satisfaction with the process of processing loans and borrowings. According to the study results, 55% of respondents who applied for an online loan were dissatisfied with the product.
Among those surveyed who made an online deposit, the number of dissatisfied people was 64%. The reasons for dissatisfaction, as stated in the report, are related to incomplete information about the deposit or loan, registration of additional services or their conditions, as well as the final interest rate.
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