Aspects of unfair competition in the banking services market

Abstract

Importance: suppression of unscrupulous behavior of financial organizations, including those associated with misleading consumers about the consumer properties of financial products. Purpose: Identification and analysis of the main signs of acts of unfair competition in the banking services market. Research design: аs part of the relevance of protecting the rights of consumers of financial services, at the present stage, signs of violation of antimonopoly legislation are classified on the basis of citizens' appeals related to the provision of banking services, a significant part of which can be considered from the point of view of the integrity of the behavior of credit institutions. This approach makes it possible to form a complex system of signs of manifestations of acts of unfair competition in the banking services market, taking into account the actual practice of the Federal Antimonopoly Service in this area. Results: а set of distinguishing features of various forms of manifestation of unfair competition in the banking services market has been formulated. An assessment is made of the modern practice of credit institutions in not disclosing the key conditions for accruing «cashback» and other bonuses, in creating new ways to hide information from consumers on various banking products. A tendency towards voluntary elimination of violations at the stage of requesting information from financial institutions, up to the stage of preparing a warning, was revealed.