Friday, October 9, 2009

Prosecutors Oppose Variable-Interest Loans

A letter from the General Prosecutor's Office to the Association of Russian Banks states that banks may not unilaterally increase interest on loans to individuals, even if permitted by the loan agreement. This position is expected to lead to more inspections of banks by prosecutors and to court challenges by banks.

http://russian-law.livejournal.com/50902.html

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