The State Duma has come up with an initiative to limit the number of consumer loans per citizen. This was stated by Duma deputy Sergei Kolunov, the Izvestia newspaper writes .
In his opinion, banks and microfinance organizations should approve no more than two loans at a time.
“This is a frightening statistic. Such a number of loans naturally leads to attempts to find a way to “zero out” them, to write off debts. Against this background, fraudsters appear who are ready to “free from debts” for money, microfinance organizations (MFOs) flourish, which are not even interested in the number of loans already taken, driving citizens into a credit hole,” said State Duma deputy Sergei Kolunov.
According to the Ministry of Labor , about 13 million Russians are simultaneously paying off at least three consumer loans. The country already has mechanisms in place to prevent new loans from being issued to over-indebted citizens, including the debt burden ratio (DBR) and increased macroprudential premiums on loans with a maximum debt burden of over 50%.
Experts note that limiting the number of loans may help reduce the level of indebtedness of the population, but it may also contradict the principles of freedom of contract and limit the rights of citizens to receive financial services. In addition, there is a risk of growth of the shadow lending market and activation of illegal lenders.
Previously, it was reported that over 100,000 citizens who had taken out several preferential mortgages had been identified in Russia. In addition, a case of 26 loans with state support per borrower was recorded. The maximum amount of a preferential mortgage taken out by one person exceeded ₽196 million.
Earlier in Russia they began offering discounts on one type of housing.