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The Bank of Russia is developing an insurance mechanism of consumer credit in the event of bankruptcy, by analogy with the current banking market deposit insurance system. This was presented at a conference on protecting the rights of consumers of financial services, said Head of the Service for Protection of rights of consumers of financial services and the minority shareholders of the Bank of Russia, Mikhail Mamut.
"We are now working on a mechanism to protect the rights of savers, and probably will be conceptually going to ensure that this system is extended to all segments of the financial market. It is not the fastest, not the easiest way, but it should be done." - Mamut said.
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