FAS INITIATED A CASE AGAINST POCHTA BANK JSC ON THE GROUNDS OF VIOLATION OF ADVERTISING LEGISLATION
Earlier, a citizen complained to the FAS Russia about the Pochta Bank advertisement. It indicated in large print attractive information for the consumer about the interest rate on the loan from 4% with the service "Guaranteed rate". However, data on other conditions affecting the cost of the loan and the possibility of participating in the promotion (amount, term, condition for concluding an insurance contract, etc.) were placed in an explanatory footnote in a hard-to-read font for a short time. Thus, consumers received incomplete information about all the conditions of the promotion that determine the cost of the loan.
The Antimonopoly Authority will evaluate the bank's advertising for violations of the law. In case of finding fault, Pochta Bank faces liability in accordance with the Law on Advertising*.
For reference:
*Part 3 of Article 28, Part 7 of Article 5 of Federal Law № 38-FZ of 13.03.2006 “On Advertising”.