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MPs Move to Protect Borrowers
26.04.2013 21:55
MPs Move to Protect Borrowers
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The Russian parliament is taking steps to tighten regulations on the credit market.

      If adopted, the new bil would scrap any fines imposed on early payoffs, limit fines on late payments and give better protection to borrowers.

      The move may be guided by positive intentions but a higher responsibility on the bank side could prompt a hike in interest rates and increase the decline rate. 

Author: Mikhail Vesely

Tags: Russian law     

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