FAS INITIATED A CASE AGAINST FC OTKRITIE BANK

The Authority revealed signs of a violation of the Law on Advertising in the actions of the ban

Earlier, the Service received an appeal from the Bank of Russia about signs of a violation in the advertising of consumer credit of FC Otkritie Bank, which was distributed on the Internet.

The advertisement provided information about the loan rate that was attractive to consumers. However, other essential conditions were not specified.

Thus, consumers received incomplete information about all the conditions of the loan that determine its value, such as the term of the loan and the condition for concluding an insurance contract.

The Authority initiated a case against the bank on the grounds of a violation of the Law on Advertising.* In case of a violation, the bank will be brought to administrative liability in accordance with the Administrative Code of the Russian Federation.

Reference:

* Part 3 of the Article 28 and the Part 7 of the Article 5 of the Federal Law "On Advertising"