Microfinance organizations (MFIs) are going to allow companies in their field to issue loans secured by real estate. Such plans are mentioned in the strategy of actions aimed at the development of members of the self-regulatory organization (SRO) “MiR” for 2021-2024, according to “RIA Novosti”.
Microfinance organizations were banned from concluding consumer loan agreements with individuals on the security of residential premises or a share in it in the fall of 2019. Then the introduction of the restriction was explained by the fight against fraud. Now the SRO intends to amend the current regulation and allow some companies to issue microloans on any collateral.
We are talking about MFOs with a capital of at least 70 million rubles. Thanks to such indulgences, companies could increase not only lending to individuals, but also offer them new products and services for the term of the main loan, the strategy says.
The Central Bank told the agency that they have not yet received such an offer from members of the self-regulatory organization.
Also, MFOs intend to obtain the right to take data from the Pension Fund, the Federal Tax Service and the GIS of the Ministry of Internal Affairs using a unified system of interdepartmental electronic interaction. This is necessary because companies are required to calculate the debt burden indicator.
On October 8, it became known that the Bank of Russia is studying the possibility of introducing the obligation for microfinance organizations to indicate the full cost of the loan in the advertisement of loans. This was announced during the MFO RussiaForum 2021 by the head of the regulation department of the consumer protection service and ensuring the availability of financial services of the Central Bank Alexey Chirkov.
Also, the Central Bank received a proposal to provide borrowers with the opportunity to dispute the information of credit histories in electronic form. A letter about this was sent to banks, MFOs and other organizations by the First Deputy Chairman of the Bank of Russia Dmitry Tulin.
In addition, in 2022, a bill may come into force that will allow the Bank of Russia to set a limit on the number of unsecured loans issued by credit institutions to citizens.
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