Banks are not willing to allow Russians to prohibit themselves from lending

The self-prohibition of granting consumer loans was approved in the first reading in October 2023. The State Duma believes that such a measure will protect the population from the actions of fraudsters. An exception to the rule would be loans secured by a car or a mortgage.

In January 2024, Russians were offered to simplify the mechanism for establishing a self-prohibition on loans – voluntarily refusing to receive them through banks and microfinance organizations. The rule may begin in January 2026.

The NSFR emphasizes that such a decision would create significant risks for both individuals and financial institutions. In the first option, a simple way was implemented: if the client submits the ban remotely, through State Services; If he does it personally, through the MFC.

And banks, according to the amendments to the bill, are obliged to immediately implement all options for submitting an application and signing it with all existing types of digital signature, which costs large banks billions of rubles.

In addition, the law “may create conditions for the emergence of manipulative practices by unscrupulous employees of financial organizations.” A bank employee may convince the customer to impose a ban after receiving a loan and declare that the ban can only be lifted after the loan expires.