OREANDA-NEWS  The Federal Antimonopoly Service (FAS) of Russia recognized Sberbank as violating advertising legislation, since the bank did not specify some essential information about the terms of the car loan, the service issued an order to the bank to stop the violation, the agency said in a statement.

In September, the Federal Antimonopoly Service announced the initiation of a case against Sberbank on grounds of violation of the law in connection with advertising a credit card. In October, the agency recognized Sberbank as violating advertising legislation, as the credit institution used an incorrect comparison in advertising financial services.

"The FAS has recognized Sberbank as violating the law on advertising. The bank did not specify part of the essential information about the terms of the car loan," the message says.

It is noted that earlier the service received a citizen's appeal with a complaint about Sberbank's advertising, which was broadcast on an advertising structure in Moscow. It contained the following statement: "Car loan in a new way. 0% down payment. A car loan without a hard hat. Registration in 2 minutes." It is indicated that some of the essential information about the terms of the car loan was missing.

According to the agency, Sberbank's actions distort the content of advertising and mislead consumers about financial services.

"The service issued an order to the bank to stop violating the law on advertising. In case of non-fulfillment of the order, the bank faces a fine," the materials say.