A new law adopted by the State Duma introduces a cooling-off period for loans and microloans ranging from ₽50,000 to ₽200,000. These will be granted only four hours after an agreement is concluded. For amounts exceeding this threshold, the funds will be transferred no earlier than 48 hours after the agreement is made. This provision takes effect on September 1, 2025.
Loans and microloans below ₽50,000, as well as mortgage, education, car loans (when credited directly to the dealer), and refinancing loans without an increase in amount are exempt from this cooling-off period. Additionally, individuals can purchase goods or services on credit without a waiting period if they visit the store or organization personally. The cooling-off period does not apply when multiple co-borrowers are involved or if sureties back the borrower.
The Bank of Russia has been given authority to adjust these parameters based on an analysis of a credit institution's anti-fraud measures. It may reduce the cooling-off period for banks that meet regulatory criteria over two quarters. Conversely, bad-faith participants face financial penalties. If a loan violates anti-fraud regulations leading to criminal charges for money theft, creditors cannot demand performance of obligations by borrowers or transfer debts to collectors.
According to a proposal by the Bank of Russia included in the law, banks are prohibited from providing electronic payment means like bank cards to individuals listed in the regulator’s database for fraudulent transactions. A monthly limit of ₽100,000 applies to valid payment cards for such individuals unless blocked by banks following law enforcement notifications.
Furthermore, banks cannot credit amounts over ₽50,000 to virtual cards within 48 hours of issuance due to their misuse in fraud schemes. Banks and microfinance organizations (MFOs) must now verify borrowers' Taxpayer Identification Numbers through government systems like the Federal Tax Service database. This measure aims to enhance borrower identification and expedite interactions with credit history bureaus.
From March 1, 2026, MFOs will have access to the regulator’s database and must refuse agreements with individuals listed there. Information exchange between creditors and credit history bureaus will become nearly instantaneous by December 31, 2026. This aims to prevent fraudsters from manipulating individuals into taking multiple loans simultaneously from different institutions.