On April 1, 2025, the Bank of Russia removed Microcredit Company UMNYE NALICHNYE Limited Liability Company (MCC UMNYE NALICHNYE LLC) from the state register of microfinance organizations. This decision, rooted in the violations of federal laws, including consumer lending regulations, follows repeated supervisory measures taken against the MCC over the past year.
The Bank of Russia cited specific legal provisions in its decision: Clause 1 of Part 1.1 of Article 7 and Clause 8 of Part 4 of Article 14 of Federal Law No. 151-FZ. These violations occurred during 2024, during which MCC violated consumer protection requirements, failed to make sufficient provisions, and submitted inaccurate reporting to the Bank of Russia on multiple occasions.
Additionally, the MCC was found to have distorted actual values of the debt service-to-income (DSTI) ratio by calculating it based on unconfirmed data regarding customer income. As a result, the artificially low DSTI ratios enabled the MCC to issue loans to heavily indebted individuals, with the percentage of such loans being among the highest in the microfinance market.
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