In the fall of 2005, Russia adopted the project aimed at setting up credit interchange bureaus – a very bright idea given the booming consumer loans and higher risks faced by the banks. The bureaus would make getting the loan for the law-abiding applicants easier and quicker, and crediting organizations would have fewer no-money-returns, the spokesperson for Uralfinprombank JSC said to UrBC representative.

‘Yet the banking history legislation hardly works in real life; Uralfinprombank JSC and many other banks have been supplying information about disloyal clients, which is regulated by the loan agreements, but there is no united database we could use yet.’