On Feb. 26, 2024, RUS GVT issued law 31-FZ on amendments to laws on consumer loans and on credit histories signed by the president of Russian Federation.
The law enters into force on Mar. 1, 2025.
In Feb. 2025, RUS CB taxpayer identification verification guide, see rule #201863.
On Feb. 20, RUS CB highlighted RUS PRL bill on self-prohibiting loans.
RUS CB announced that citizens will be able to self-prohibit loans in accordance with bill 341256-8 on amendments to laws on consumer loans and on credit histories.
Proposals
In line with the bill anyone can protect themselves from a situation where fraudsters issue a loan in his name, and voluntarily refuse to enter into a loan agreements.
To turn on the mechanism, consumers will need to record a special ban in their credit history through the State Services portal or in a municipal services center.
The ban can be different: by the type of lender (bank or microfinance organization), by the method of applying for credit or loan (in the office and remotely or only remotely).
An individual will be able to cancel the self-ban at any time if they want to get a loan.
The ban will be lifted one day after the relevant information is added to the citizen’s credit history as the cooling off period can help people make more informed decisions.
Effectiveness
If the bill is approved, the law will enter into force starting from Mar. 1, 2025.
Feb. 21, 2024 Update
On Feb. 21, 2024, RUS PRL also announced approval of the bill on the amendments to laws on consumer loans and on credit histories by the federation council of Russia.
Feb. 26, 2024 Law Issued
On Feb. 26, 2024, RUS GVT issued law 31-FZ on amendments to laws on consumer loans and on credit histories signed by the president of Russian Federation.
The law enters into force on Mar. 1, 2025.
In Feb. 2025, RUS CB taxpayer identification verification guide, see rule #201863.
Regulators
RUS CB; RUS GVT; RUS PRL
Entity Types
Bank; CNSM; CRB; CU; MSB
Reference
PR, Law 31-FZ, 2/26/2024; PR, 2/21/2024; PR, 2/20/2024; Bill 341256-8
