Chaika called the outrage a “predatory scheme” lending to Russians

Prosecutor General Yuri Chaika on the Board of the Prosecutor General’s office on Wednesday called “outrageous” the retraction has taken a loan of Russians in “debt bondage”, reports “Interfax”.

Chaika noted that because of “predatory” lending many Russians in 2015 was “in a difficult and even critical situations”. According to him, tests have shown that often banks unilaterally changed the terms of contracts and charged them unintended penalties. “Alone among this ugliness are microfinance institutions, which in some cases people paid more than 1000% per annum”, — said Chaika.

“Thus the borrower was involved in debt, did not hesitate to Rob and the elderly” — said the Prosecutor General.

Chaika also noted that collectors sometimes used a “blatantly thuggish methods of debt collection”. “We hope that with the adoption of a law regulating the activities of collectors, and their work in every sense will be included in the legal process,” he concluded.

In February, the President’s press Secretary Dmitry Peskov said that banks and borrowers are facing difficulties in the repayment of foreign currency loans, shall jointly formulate acceptable solutions to the problem. “We know that some financial organizations, banks simply speaking, offer various ways of getting out of this crisis. Some of the proposed options suit borrowers, some not,” he said.