Lending Cool Down Measures: Safeguarding Komi Residents from Deceptive Practices
New Credit Issuance Rules in Russia Introduce "Cooling-Off Period" to Protect Citizens
Starting September 1, a new set of credit issuance rules will come into effect in Russia, aiming to provide a window for borrowers to reconsider their decisions and avoid potential fraud. Known as the "cooling-off period", these rules were explained by the Bank of Russia's Republic of Komi Branch.
The main goal of the new rules is to give people time to think before taking out a loan. If the amount exceeds 200,000 rubles, funds will not be transferred until at least 48 hours have passed. For loans ranging from 50,000 to 200,000 rubles, funds will only be available 4 hours after the contract is signed. Small loans under 50,000 rubles are exceptions to the "cooling-off period" rule.
Victor Starcev, an expert from the regional Bank of Russia branch, emphasized the importance of staying vigilant and not giving in to scammers' urgings to 'take out a loan quickly'. Scammers often pressure people into taking out loans under various pretexts, such as the example of a pensioner being forced to take out a 150,000 ruble loan under the guise of card compromise. The scam involves the pensioner transferring money to a 'temporary account' which is actually a scammer's account.
During the "cooling-off period", the borrower can cancel the credit agreement if they realize they've been defrauded. If a loan was taken out under pressure, it can be canceled during the "cooling-off period" without any consequences. The new rules aim to protect citizens from fraudsters by providing this opportunity to reconsider their decision.
The Bank of Russia's Republic of Komi Branch is responsible for implementing these new rules. The new credit issuance regulations in Russia were not explicitly attributed to any individual or organization in the provided search results.
These new rules are designed to be a significant step forward in protecting Russian citizens from financial scams. It is crucial for everyone to stay informed and remain vigilant against potential fraudsters. By taking the time to think before taking out a loan, citizens can protect themselves from falling victim to scams and make informed decisions about their financial future.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
- Celebrated Title: Cheesemakers Blessed Upon
- Construction and renovation projects in Cham county granted €24.8 million focus on energy efficiency
