The Federal Antimonopoly Service convicted Otkritie of violating the advertising law and fined the bank 300,000 rubles. Details of how to get an attractive rate on the loan were footnoted in fine print, misleading consumers, the department explained.
The Federal Antimonopoly Service (FAS) fined Otkritie Bank in the amount of 300,000 rubles for misleading advertising. This was reported by the department’s press service.
The FAS explained that the bank indicated an attractive loan rate in a television commercial, but to receive it several conditions had to be met. These conditions were described in a footnote in fine print, misleading consumers, the department said.
“Thus, consumers received incomplete information about all the conditions of the loan that determine its cost,” the FAS concluded.
Earlier, banks received a recommendation from the Federal Antimonopoly Service and the Bank of Russia to indicate all key data on loans and deposits in the same font size and not to use techniques that may incorrectly affect the consumer’s perception of information.
Author:
Kirill Bilyk
Source: RB
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