Westside’s Partner Sergey Vodolagin quoted by Pravo.ru newspaper on legal difficulties of bankers

Control over banks in recent years has become tougher. Employees of credit organizations told "Pravo.ru" what legal difficulties they experience in their activities: the inability to identify the client in the Internet, the interference from Rospotrebnadzor and the complexity of the current emission procedure.

Since September 1, 2013, the Central Bank supervises all financial institutions. Since then, the number of deprived licenses is growing. In 2012 19 banks lost their licenses, in 2016, the number of such banksis already equal to 93.

As a rule, they are punished for participating in dubious financial transactions.

Sergey Vodolagin, partner of Westside law firm: "In the relationship with the bank, the client is a weaker party, and Rospotrebnadzor is on guard of his rights." It is difficult for an individual to resist the bank, especially when it comes to negotiating the terms of the loan agreement, considers Mr. Vodolagin. He admits that abuses are also frequent on the part of clients, but this is inevitable, since legislation protects the consumer to a greater degree.

https://pravo.ru/review/view/137601/