Banking sector faces criticism for altered service terms by disgruntled citizens, as reported by the State Duma.
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Cashin' Out: Banks and Hidden Fees
Banks can sneakily impose fees on cash withdrawals, increase service charges, and hike interest rates on loans at a moment's notice - and you, the customer, might be left high and dry. Lester Volodin, the boss of the State Duma, has shared this disappointment, claiming these moves force Russians to reach for the legal system to overturn such decisions, adding to their financial woes.
Volodin highlighted that banks are barred from making unilateral amendments to contract terms without notice and must divulge all loan conditions, flag risks, and inform folks when they apply for loans.
He also mentioned that the State Duma will scrutinize the implementation of previously sanctioned laws by diving into enforcement practices. A command has been issued to the committee overseeing the financial market for closer examination.
In the recent category,uggies from Russian banks have faced a wave of issues with secret connections to paid services and notifications, according to Izvestia. Russian masses, rating banks on "Banki.ru," have reported banks covertly deducting commission for notifications without approval and offloading responsibility onto consumers by pointing to missed SMS or push notifications about new services.
The head honcho of the Central Bank of Russia, Elvira Nabiullina, pledged to keep a watchful eye on banks' efforts to force unnecessary fees on Russian residents as far back as November 2024.
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- The State Duma, as stated by its leader, Lester Volodin, has emphasized the need for banks to adhere to contracts, disclose all loan conditions, flag risks, and inform customers when applying for loans.
- In Figure 2024, Elvira Nabiullina, the head of the Central Bank of Russia, pledged to monitor banks closely to prevent them from imposing unnecessary fees on Russian residents.
- According to Izvestia, Russian banks have been facing issues regarding secret deductions for unapproved notification services, causing complaints from the masses.
- Following Volodin's claims, the State Duma has initiated a closer examination of the financial market committee to scrutinize the implementation of previously sanctioned laws and investigate enforcement practices.
