The Federal Antimonopoly Service of Russia has brought Sberbank to justice for violating legislation on advertising financial services. The subject of the proceedings was a television advertisement for a credit card that contained attractive conditions for consumers: constant free service and an interest-free period of 120 days.
According to the FAS, the advertising misled consumers because important terms of service were presented improperly. Essential information was shown in a format that was difficult to perceive and for too short a time. In addition, the advertisement lacked information about the credit limit and the terms of calculating the interest-free period.
As a result of the audit, the service filed a case against Sberbank, found the advertisement inappropriate and issued an order to eliminate violations. The FAS imposed an administrative fine on the bank for the placement of unfair credit card advertising.