📋 Tender Overview
The State Duma adopted such a law in the third reading. The law will come into force on September 1, 2027. The State Duma adopted in the third reading a bill amending the laws on the national payment system and on consumer credit (loan).
The new law establishes that credit institutions that have the right to conduct money transfers are required to disclose information at the places where services are provided and on their websites:
on the conditions (changes in conditions) for the provision of services, including information on the conditions (changes in conditions) for transfers via SBP;
on the conditions (changes in conditions) for the provision, use and acceptance of electronic means of payment, except for those used for transferring electronic funds.
The procedure, method and timing of disclosure of such information, as well as its composition, will be established by the operating standards of credit institutions. The same standards will establish requirements for the procedure, method, form and timing of placement by credit institutions of information on the conditions for the provision, use and repayment of consumer loans, requirements for the borrower and other mandatory disclosure of information listed in the law on consumer loans.
The law will come into force on September 1, 2027 (801922-8).
