Sberinvestbank fined for advertising law violations
13 October 2008 (09:31)
Sberinvestbank will have to pay a 40,000-ruble fine for violating the federal advertising bill, the spokesperson for Sverdlovsk Region’s division of the Federal Antimonopoly Service reports.
The Service’s regional division declared on May 21, 2008 that the bank’s car loan ad printed in Telesem newspaper was improper due to missing some essential information on the additional expenses the borrower would have to bear, namely, the expenses resulting from having to insure the automobile that would itself serve as a loan guarantee.
On June 4, 2008, the Service filed a lawsuit against the bank, accusing the latter of violating Article 28 (part 3) of the federal advertising legislation, whereupon Sberinvestbank was sentenced to a 40,000-ruble fine.
The bank was not satisfied with the Service’s ruling and took the case to Sverdlovsk Region Court of Arbitration, but the latter found the fine both legitimate and reasonable and ruled in favor of the Federal Antimonopoly Service’s original decision on October 2, 2008.
The Service’s regional division declared on May 21, 2008 that the bank’s car loan ad printed in Telesem newspaper was improper due to missing some essential information on the additional expenses the borrower would have to bear, namely, the expenses resulting from having to insure the automobile that would itself serve as a loan guarantee.
On June 4, 2008, the Service filed a lawsuit against the bank, accusing the latter of violating Article 28 (part 3) of the federal advertising legislation, whereupon Sberinvestbank was sentenced to a 40,000-ruble fine.
The bank was not satisfied with the Service’s ruling and took the case to Sverdlovsk Region Court of Arbitration, but the latter found the fine both legitimate and reasonable and ruled in favor of the Federal Antimonopoly Service’s original decision on October 2, 2008.
 | Embed to Blog |  | Subscribe to Newsletter |  |