Federal Antimonopoly Service lays claim against Bank Severnaya Kazna

Sverdlovsk Region’s division of the Federal Antimonopoly Service laid a claim against Bank Severnaya Kazna related to the latter’s alleged violation of the federal bill on advertising, the spokesperson for the Service reports.

The bank’s advertisements are reported to be missing some information on the customers’ expenses related to the opening of a bank account, and insurance of life and working ability. Then, one of the ads did not inform the customers that the bank was allowed to change the interest rate on the loan at will.

Another violation was connected with lack of information about the obligatory insurance of life, permanent disablement, and loss or limitation of ownership over one’s apartment in the bank’s advertisement of their mortgage lending and participatory share construction programs.

Sverdlovsk Region’s division of the Federal Antimonopoly Service believes the bank’s ads thus failed to meet the requirements imposed by Articles 28 (part 3) and 5 of the federal bill on advertising,


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