The Russians will protect from microcredit and collectors

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Россиян защитят от микрокредитов и коллекторов

In the state Duma introduced a bill aimed at protecting Russian citizens from illegal actions of collectors, as well as for toughening of responsibility for illegal delivery of microloans. It is reported TASS with reference to the Ministry of internal Affairs.

Experts of the Ministry of interior take part in the development of documents. In particular, the Agency proposes to prohibit the registration of microcredit via the Internet without providing a passport. Also, the bill will be subject to administrative liability for financial institutions that use harsh methods when dealing with debtors or grant loans illegally.

On 29 April Russia’s Supreme court declared illegal the endless accrual of interest on microloans. Earlier on March 2 the Chairman of the Board Federalimentare Matvienko said that micro-loans secured on dwellings should be banned.

In February the President of Russia Vladimir Putin ordered to stop the illegal actions against citizens on the part of microfinance institutions and collectors. The performance of the Commission entrusted to the Bank of Russia, Ministry of interior, Ministry of justice, the Investigative Committee and the Prosecutor General of Russia. Agencies must report before may 1, 2019.

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