Federal Antimonopoly Service sues Bank Uralsib

Sverdlovsk Region’s division of the Federal Antimonopoly Service laid a claim against Bank Uralsib for the company’s alleged violation of the federal advertising law, the spokesperson for the Service reports.

The bank’s advertisements devoted to their car loans, mortgages, and a grace-period credit card were reported to lack some essential information on the products. The Service believes Bank Uralsib’s ads thus violate Article 5 (part seven) of the federal bill on advertising.

The case is to be considered by Sverdlovsk Region’s division of the Federal Antimonopoly Service’s Committee on August 15, 2008.