11.02.2021
Banks Violated the Consumers’ Interests by Law on Attraction of Deposits to Be Fined
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MPs Artak Manukyan and Babken Tunyan propose to amend the law on Attraction of Deposits and fine the banks in the event of violations. It is designed to levy up to 500.000 drams, but not less than 300.000 drams for the violation made for the first time during 365 days. During the same period in the event of violation made for the third time the bank will be fined up to 2mln drams.
Artak Manukyan has noted that the strictness is aimed at the prevention of the violations and the protection of the consumers’ interests.
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