Bank of Russia surveys households about bank and MFO consultations

However, most respondents noted that, offering particular credit products or additional services to them, the consultants were primarily guided by the interests of their companies, rather than a borrower’s needs and preferences. Moreover, only a half of the surveyed were notified by the consultants about the opportunity to reject such services.

The Bank of Russia will take into account these results in the course of its supervisory activities and the development of the regulation to protect financial consumers’ rights.