PROBLEMS OF PROTECTION OF CITIZENS'' RIGHTS IN CREDIT AGREEMENTS UNDER THE RUSSIAN LAW AND WAYS OF THEIR SOLUTION

Abstract

n this article the problems of civil relations "usurious interest", levy by banks and other actors under loan agreements, problems of excessive penalties for failure or delay in the execution of such contracts are examined. The authors suggested the definition of "usurious interest", their characteristics, as well as the mechanism of legal regulation of restrictions on their establishment and size of the penalty for consumer loans. Despite some measures to ensure the rights of citizens in consumer lending, lenders like business entities often abuse their right, just ignoring the size of the key rate of the Central Bank of the Russian Federation. Subjects of legislative initiative offered different solutions to the problems raised, as already existing and to prevent further similar situations. The problem is the need to protect consumers as a weak party in economic and legal terms, in loan agreements, loan agreements with respect to banks and other credit institutions, which act as lenders, creditors. Among these measures the introduction of restrictions, so-called "usurious interest", could be offered, which are sometimes hundreds or thousands times higher than normally charged interest in such cases abroad, as well as interest, which the Central Bank and other members of the financial relations lend to commercial banks, creating an extraordinary burden for the debtor.