sick, loses a job, then, as a general rule, no one exempts the best tools to manage him from paying. Insurance reduces this risk, so the bank can quite legally offer a lower rate. If there is no insurance, the risk increases — as does the rate. This is fair and economically understandable. But in this case, the bank must tell you how much the loan will cost with and without insurance. Then you will understand how much one and the other actually cost. And then you will choose whether you want it with or without insurance.
— The other day, a bank manager called me and offered me a loan. I tormented him for 10 minutes: “Tell me the full cost of the loan, including insurance.” He said: “Evgeny, 6.9% is the full cost of the loan.” I said: “No. Calculate the full cost for me.” He never did.
— The law on consumer credit is designed in suc
h a way that now, when a bank calculates the full cost of a loan, it does not always include all the services and products that it sells along with the loan. This leads to a situation where a person does not see the real cost of what they are buying and does not really take these expenses into account.
We are aware of this problem and are working
on a bill that will oblige the bank to include in the calculation all additional services related to obtaining a loan that are issued together with or “near” the loan agreement. Plus, we how web3 will affect ecommerce want to strengthen the rule on the cooling-off period. Usually, a person understands that he is overpaying when the time comes to pay. And the first payment is the moment when he realizes the real amount. Therefore, we want to america email give a person five days after this payment so that he can exercise his right to refuse additional services.