‘The Russian Federation Supreme Court of Arbitration rejected the appeal of Home Credit and Finance Bank Ltd. for the third time. This means that the resolution made by the Ural Division of Rospotrebnadzor (the consumer rights watchdog) has been declared valid by three legal bodies,’ says Elena Bogacheva of Rospotrebnadzor.

More and more people have been dissatisfied with the banking services lately; based on the number of complaints placed with the local division of Rospotrebnadzor and with Yekaterinburg Consumer Rights Committee, in most cases, this involves two certain banks, namely, Russian Standard Bank and Home Credit and Finance Bank Ltd.

‘We are often asked to share our experience of how we handle inspections of banks that allegedly violate consumer rights. This makes me hopeful that consumer lending practices in this country will soon be brought in compliance with the consumer rights legislation,’ Ms Bogacheva noted.