The Central Bank of Russia removed microcredit company Zanimatelnye Finansy LLC from the state register of microfinance organisations, citing repeated violations of federal laws, including in consumer lending, and breaches of Bank of Russia regulations after multiple supervisory measures over the past 12 months. The regulator pointed to unreliable reporting in 2024, including understated maximum debt service-to-income ratios for borrowers, alongside consumer loans issued at interest rates above the maximum permitted level. It also cited charging higher fines on overdue loans and hard-selling additional services when issuing new loans. The understated DSTI ratios enabled lending to heavily indebted individuals, and the share of such loans at the company was among the highest in the microfinance market.
Central Bank of Russia 2025-02-06
Central Bank of Russia removes microcredit company Zanimatelnye Finansy from the state microfinance register over repeated consumer lending breaches
The Central Bank of Russia removed Zanimatelnye Finansy LLC from the microfinance register for repeated violations of federal laws and Bank of Russia regulations. The company had unreliable reporting, understated debt service-to-income ratios, and issued loans at interest rates above the legal maximum. Additional infractions included excessive fines on overdue loans and aggressive sales of extra services.