The Central Bank proposed to give the Russians the right to prohibit the issuance of loans in their name

Miscellaneous / by admin / June 14, 2022

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Bank of Russia proposed self-prohibition mechanism for issuing loans. With it, every Russian will be able to protect himself from a situation where fraudsters have issued a loan or a loan in his name.

Banks and microfinance organizations (MFOs) will have to check the borrower's credit history for self-restrictions before issuing loans. And if, despite the fact that they act, the creditor will still issue the money, he will not be able to demand repayment of the debt.

Michael Mamut

Head of the Consumer Protection and Financial Inclusion Service

Russians will be able to impose a ban on the type of lender (bank or MFI), the method of contact (remotely or in the office), as well as on all or certain types of loans and borrowings.

It will be possible to set and remove such restrictions any number of times, depending on the life situation. It will be enough to contact a qualified credit bureau.

To implement such a mechanism, the Bank of Russia prepared the necessary legislative proposals and sent them for interdepartmental approval.

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