Penza, 26 June 2015. PenzaNews. A committee of the Penza region department for the Federal Antimonopoly Service (FAS) has claimed that an ad of Express-Volga bank on financial services was in violation with the legislation.

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Following the information published on the website of the department, the FAS experts have conducted an audit of an exterior ad of the bank for a no-guarantor loan as part of the May 2015 country-wide checkup campaign.

The committee concluded that the advertisement names the service – the no-guarantor loan – but not the subject offering it, and provides no information on other features that affect the payments the bank clients will have to make.

As a result, Express-Volga bank was instructed to rectify the violations of advertisement legislation.

Moreover, the case may also become a basis for an court review of an administrative violation of Part 1, art 14.3 of the Administrative Offences Code, titled “Violating the Legislation on Advertising.”