‘We keep getting complaints about Russian Standard Bank, and the number of those has increased even further after the media announced some banks were violating the loan-giving regulations. There are a few banks that make their customers unhappy, but most applications we get have to do with Russian Standard Bank,’ Elena Bogacheva of Rospotrebnadzor (the state consumer rights watchdog) in Sverdlovsk Region said to UrBC.

‘Our regional division has recently considered filing an administrative suit against the bank. The decision was taken because of a great number of clients’ complaints. Rospotrebnadzor decided that Russian Standard Bank was not providing enough information regarding its consumer loans and bank cards. It was not very clear to its customers just how they were supposed to pay and what kinds of fees were charged for additional services. As it happens, the fees could often result in a very dubious final sum total. Rospotrebnadzor asked Russian Standard Bank to handle these issues, but the company has not reacted in any way so far,’ Ms Bogacheva observed.