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The Bank of Russia proposes to suspend the issuance of loans for security purposes
It is proposed to introduce a mandatory cooling-off period for consumer loans and credits between the conclusion of the agreement and the receipt of money. The period depends on the loan amount. This is stated on the website of the Russian bank.
There is no cooling-off period for loans up to 50,000 rubles. For loan amounts from 50,000 to 200,000, the cooling-off period is 4 hours, and for larger loans - 48 hours. However, for mortgage loans for housing, car loans, student loans, etc., in which the state is involved, the cooling-off period does not apply if the funds are immediately transferred to the car dealer's account. The regulator sent these proposals to the Russian Ministry of Finance for revision of the bill.
The plan would require banks to scrutinize loan applications for signs of fraud. If a bank suspects that a person is applying for a loan under the influence of a criminal, it must warn the borrower.
The regulator also proposes to speed up the exchange of information between lenders and credit bureaus online. This prevents the possibility of obtaining loans from several lenders at the same time due to the influence of criminals.
If a financial institution issues a loan in violation of the collateral, the lender loses the right to demand that the borrower fulfill his obligations, charge interest and transfer the loan to collectors.
A mandatory requirement is being introduced for microfinance organizations to deposit borrowed funds into an account if the information about the borrower and the recipient of funds matches. If information about this individual is found in the database of Russian banks on suspicious accounts, the MFO must refuse to conclude an agreement. They have access to the regulator's database.
The initiator believes that the implementation of the proposed measures will protect citizens applying for loans and advances under the influence of criminals and will ensure that they receive the money they receive.
It was previously reported that Russians will be able to prohibit themselves from receiving loans from March 1.