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CMS Client Alert | March 2014 | Banking & Finance

New consumer lending law in Russia

24/03/2014

The harmonisation of consumer lending legislation into a single law has taken several years. It materialised with the enactment on 21 December 2013 of Federal Law No. 353-FZ “On Consumer Credit”. The Law will regulate, from 1 July 2014, the provision of loans to individuals by banks or non-credit financial institutions for purposes not related to entrepreneurial activities.

 

Source
CMS Client Alert | March 2014 | Banking & Finance
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Authors

Baranov Konstantin
Konstantin Baranov
Partner
Moscow