Banking history law does not fully function, claims Uralfinprombank JSC

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.’


Other materials on the topic::