The Committee on Freedom of Speech and Information recommends that the Parliament should adopt as a basis the bill on amendments to the Law ‘On Advertising’ (re requirements to advertising of consumer credit)

Information Department of the Verkhovna Rada of Ukraine Secretariat
26 November 2013, 11:11

The bill (Reg. No. 2429a) suggests establish that advertising of consumer credit shall contain such information:

total amount of credit;

annual percentage rate;

period for which credit can be obtained;

total sum paid by the consumer and the sum of separate payments, etc.    


According to the bill, if concluding agreement on providing additional services connected with credit agreement, particularly insurance, is necessary for obtaining credit (or for its obtaining under advertising conditions) and when expenses for such services can not be determined in advance, it should be stated about the commitments of concluding such agreement ‘in clear, understandable and distinct manner.’