Moscow FAS office launches case against VTB over improper advertising of loan
MOSCOW, February 10 (RAPSI) – The Moscow office of the Federal Antimonopoly Service (FAS) has opened a case against VTB bank over inappropriate advertising of a loan, the agency informs in a statement on Monday.
The application to the office was submitted by a citizen, who had received a telephone call advertising a loan he could take from VTB on favorable terms. Nevertheless, when he contacted the bank it turned out that the credit could not be provided on the advertised terms as there were additional points in the credit agreement the bank did not mentioned in its advertisement.
The antimonopoly watchdog says in the statement it is to examine the relevant documents to establish if the consumer was misled by the advertisement.
The case is to be heard on February 19; in case there is found a violation, the bank is to be fined 100,000 to 500,000 rubles (about $1,500 to $8,000 at the current exchange rate).