OREANDA-NEWS Deputy Finance Minister Alexei Moiseev, on the sidelines of the International Financial Congress, stated that the Ministry of Finance of Russia, as a measure to limit the risks of consumer lending, proposes to toughen liability for illegal creditors, up to criminal liability.

He noted that those who are not regulated in any way because they are in the “gray zone” are the most “hooligans” in this sphere. When this is the responsibility of illegal creditors, there is only administrative.

In 2017, Russian President Vladimir Putin compared microfinance organizations with a lender from Dostoevsky’s novel, he commissioned to develop a concept of consumer protection in the financial services market until 2030.

Recall that in May 2019, the head of the Bank of Russia Elvira Nabiullina at a meeting of the Financial Market Committee in the State Duma announced that the Central Bank opposes a microfinance ban, as this could lead to the appearance of illegal creditors.