Translartion. Region: Russians Fedetion –
Source: Central Bank of Russia –
Credit institutions should eliminate visual techniques when posting information about deposits in remote channels, and also refrain from automatically placing marks for the consumer. This is stated ininformation letter The Bank of Russia and the Federal Antimonopoly Service (FAS).
According to the Bank of Russia and the FAS, the use of graphical techniques and focusing on indicators that are more attractive to the consumer (for example, profitability, effective rate) can mislead a person regarding the terms of the deposit.
If the bank specifies the maximum possible interest rate on the deposit, then next to this information it is necessary to list the conditions under which the client will receive the promised yield, and also to indicate the minimum guaranteed rate. Moreover, without using graphic techniques (obvious differences in background, color and font size). If the bank uses the same name for several types of deposits, then the minimum guaranteed rate must be calculated for each of them separately.
Preview photo: sommart sombutwanitkul / Shutterstock / Fotodom
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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
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