FAS will create a "black book" with unscrupulous practices of financiers

The FAS will start publishing a review of unfair practices in the financial market, the so-called black book. The actions described in it should not be repeated by other market participants, Andrey Kashevarov, deputy HEAD of the FAS, warned

The Federal Antimonopoly Service (FAS) is working on the creation of a "black book" with an overview of the unfair practices of financial market participants. Andrey Kashevarov, Deputy Head of the FAS, spoke about this at the Financial Congress of the Bank of RUSSIA, RBC correspondent reports.

“We intend to publish a review of these unfair practices, consider that it will be a “black book”, not a “white book”, for market participants. There is probably no need to repeat these actions, which have already been taken by a number of participants, since the reaction will be predictable and unambiguous,” Kashevarov said.

In a conversation with RBC, Kashevarov clarified that this book may contain a description of dishonest actions, but without specifying specific banks. Such practices may include, for example, the wording on the websites of banks, where the main attention of the visitor is drawn to the interest rate on the balance on debit cards, but it is not indicated that this balance is charged only for amounts up to 300 thousand rubles.

“We will record only what we have seen and what citizens are complaining about. Everything will depend on the speed with which [bad practices] appear, the speed of circulation will also depend on this. If there is an array of [complaints], we will not wait. We already have a sufficient set of (unfair practices. -),” Kashevarov said, adding that such a review could be ready by the end of this or early next year.

The Bank of Russia also intends to disclose more information about unfair practices committed by banks, Mikhail Mamuta, head of the Central Bank's consumer rights protection service, said at the forum. According to him, the regulator will move in two directions - the introduction of the ranking of banks by the number of submitted and justified complaints, as well as the expansion of the publication of information on the applied sanctions in the form of fines.

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“We are already publishing the ranking of insurance companies by complaints. We suspended it for the period of covid and all the stories, when there were abnormal deviations from market behavior, but in general we plan to continue [carrying out] it on an ongoing basis and gradually expand it (at the expense of banks and other participants in the financial market. - ),” Mamuta said . He clarified that the place in the ranking of the Central Bank will not depend on the number of complaints filed by consumers of financial services, but on the number of justified appeals.

Mamuta also added that the regulator is already publishing information on some types of administrative fines charged to banks, MFIs and other market participants, including as part of behavioral supervision. “It is planned to expand this further with an emphasis on violations in the consumer sphere,” he explained. In particular, the Central Bank is already publishing cases of unfair practices it has identified and maintains a list of companies with signs of illegal activity.