Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
The Bank of Russia has excluded information about the Limited Liability Company Microcredit Company “Entertaining Finances” (hereinafter referred to as LLC MCC “Entertaining Finances”, MCC, microcredit company) from the state register of microfinance organizations (register entry number No. 2203045009908).
The Bank of Russia adopted this solution in accordance with paragraph 1 of part 1.1 of article 7 and paragraph 8 of part 4 of article 14 of Federal Law No. 151-FZ1, based on the fact that the microcredit company violated federal laws, including in the field of consumer lending, as well as regulatory acts of the Bank of Russia, in connection with which the regulator has repeatedly applied supervisory measures to the MCC over the past 12 months.
During 2024, LLC MCC “Entertaining Finances” submitted false reporting data to the Bank of Russia, in particular, it understated the calculated value of the maximum debt burden (MDB) for borrowers. In addition, the MCC provided consumer loans to borrowers at rates exceeding the maximum permissible amount, charged increased penalties (fines, penalties) on overdue loans, and also imposed additional services when issuing loans.
The understatement of the DTI allowed the microcredit company to issue loans to over-indebted citizens. The share of such loans issued was one of the highest in OOO MCC “Entertaining Finances” among the participants of the microfinance market.
1 Federal Law of 02.07.2010 No. 151-FZ “On microfinance activities and microfinance organizations”.
When using the material, a link to the Press Service of the Bank of Russia is required.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect
HTTPS: //VVV.KBR.ru/Press/PR/? File = 638744311296666060MICROFINANCE. CHTM