So, if advertising credit is on the radio, then the duration of such prevention should make not less than three seconds. In advertising that interrupts TV shows and movies no less than five seconds, and such warning must be given not less than 7% of the area of the frame. In Newspapers and other printed materials – not less than 10% for advertising space.
Spring believes that the endorsement of the bill will help to ensure that potential borrowers will begin to make more informed decisions on the conclusion of the loan contract. It will also lead to increasing the reliability of advertising of financial products and financial literacy, stated in the explanatory note.
the Initiator refers to the results of the sample study of the advertising of credit products and concludes that on average, advertisers are pointing to 28 conditions affecting the cost of credit in a 30 second commercial. “Not only to study all the stated conditions for a specified time, but also to pay attention to them is not possible”, – said the author. The consumer, in her estimation, formed the impression of a “free” credit product, and information about conditions affecting the cost of credit loan available to the consumer of financial services is not received.
the Bill is aimed at creating conditions for the complete information in an accessible form to citizens about the terms of the loan and the possible risks – stated in the accompanying materials.