The Federal Antimonopoly Service (FAS) of the Russian Federation imposed a new fine on Pochta Bank for demonstrating a controversial promotion in which customers were offered a low interest rate on a loan; Now the company must pay 400 thousand rubles.

The bank had previously violated advertising legislation and reported the execution of the order in this case, but continued to display the offer.

FAS fined Pochta Bank again for improper advertising of a loan, now for 400 thousand rubles

The FAS again fined the company 400,000 rubles for non-compliance with the order, the department said in a statement.

“Pochta Bank”, announcing the “Guaranteed Rate” option, indicated in large letters attractive information for consumers about the loan interest rate of 4%. At the same time, data on the conditions affecting the cost of the loan and the possibility of participating in the promotion were placed in an explanatory footnote in illegible handwriting for a short period of time, explains the FAS.

Thus, consumers did not receive complete information about all the terms of the promotion that affect the cost of the loan.

On October 6, the antimonopoly service recognized that the advertisement was inappropriate, issued an order to the bank and imposed a fine of 500 thousand rubles.

“The company reported compliance with the order, but continued displaying inappropriate advertising. For non-compliance with the order, the FAS of Russia opened an administrative case and fined the bank 400 thousand rubles in accordance with the Code of Administrative Offenses of the Russian Federation,” the FAS concluded.


Anastasia Marina

Source: RB

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