Rospotrebnadzor to inspect Home Credit and Finance Bank Ltd again

27 September 2007 (12:46)

‘We are going to once again look into Home Credit and Finance Bank’s activity in the nearest future because we have been getting innumerous complaints lately,’ Natalia Afanasieva, Consumer Rights Protection Director of regional division of Rospotrebnadzor (the state consumer rights watchdog) said to UrBC.

According to head of Rospotrebnadzor Gennady Onischenko, they keep receiving plenty of complaints related to banks’ performance, and most of them are targeted against Home Credit and Finance Bank Ltd.

‘This is not the first time the bank is going to be inspected. We first investigated their activity as early as 2005, yet since complaints keep coming, we’ll have to get much stricter and ensure more surveillance over this company,’ Ms Afanasieva reported.

People mainly complain about the bank not providing them with essential information on the loan terms or giving them inaccurate information instead; then, borrowers are not explained the legal terms of their agreements properly, and the agreements themselves often contain provisos that actually infringe on borrowers’ rights. This is why Rospotrebnadzor demanded that its local divisions make sure any bank that has a point regarding the so-called contractual jurisdiction in its agreements is thoroughly monitored. In the meantime, most of consumers’ complaints are related to no other than Home Credit and Finance Bank.

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