Financial organizations impose products and services on citizens, mislead about the profitability of products and ways to terminate contracts, and also conduct pseudo-consultations, the Bank of Russia said. So, in 2019 alone, the Central Bank received 3,400 complaints regarding unfair sales practices, 2,000 of them regarding the imposition of financial products in the offices of credit institutions, according to a new report from the regulator. In the first half of 2020, the share of complaints against credit institutions among all complaints received by the Central Bank increased from 57.5% to 71.9%. After analyzing them, the regulator described 14 unfair banking practices, proposing measures to combat them. Such as “fair” communication scenarios for bank consultants, audio or video recording of their conversations with clients and retraining of employees.
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However, experts believe that this will not help correct the situation. “Misseling (substitution of products, when, for example, instead of a deposit, the client is offered investment life insurance, claiming that this is practically the same. -” Vedomosti “), the imposition of products and services, misleading customers – these problems cannot be solved by the Central Bank over the past five years, – said Dmitry Yanin, Chairman of the Board of the International Confederation of Consumer Societies. “The recommendation to record the communication of bank employees with clients will also not solve these problems due to its legal status – it is not necessary to fulfill it.”
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