VUZ-Bank violates consumer rights

Sverdlovsk Region Arbitration Court ruled in favor of Rospotrebnadzor’s Chkalovskiy division of Sverdlovsk Region Administration’s decision regarding OAO VUZ-Bank. The state consumer rights watchdog insisted that the bank was violating the rights of its customers.

This Chkalovskiy division of the consumer rights protection agency received a number of complaints filed by VUZ-Bank’s customers in September 2009-April 2010. The subsequent inspections revealed that the bank’s loan agreements contained some terms that infringed upon the customers’ legal rights.

After Rospotrebnadzor had ordered the bank to eliminate these contract terms, VUZ-Bank appealed against this decision in Sverdlovsk Region Arbitration Court; however, the court supported Rospotrebnadzor’s ruling.


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