OREANDA-NEWS. On July 08, 2008 Federal Antimonopoly Service (FAS Russia) initiated a case against "Home Credit and Finance Bank" Ltd. for breaching Article 14 of the Federal Law "On Protection of Competition" (unfair competition), reported the press-centre of FAS Russia.

The case was initiated upon a complaint of another credit organization regarding unfair competition by "Home Credit and Finance Bank" Ltd.

The bank violated the law by disseminating consumer-misleading information about conditions of consumer credits. Information on the bank products, placed at the bank's official internet-site says that there is no facility fee. Nevertheless, the bank includes monthly facility fees in its credit agreements.

The case hearing is scheduled for 13th August 2008.

Article 14 of the Federal Law "On Protection of Competition" forbids unfair competition, particularly, misrepresentation with regard to the nature, methods and location of production, usability, goods quality and quantity or the goods manufacturers.