Some banks unreasonably deducted interest from citizens’ credit cards

The Competition Committee has sent a request to the Central Bank to protect credit cardholders, the department’s press service reports.

It turned out that some banks equate payments from credit cards (for example, for utilities, education, medical services, insurance, and taxes) with cash withdrawals. They charged high interest and commissions for this. The Competition Committee sent a request to the Central Bank on this issue.

The department demanded from the regulator:

• study the activities of state and private banks and review the issues of interest on credit cards;
• coordinate measures taking into account the interests of consumers, as well as take measures to return unreasonably taken commissions.

Earlier, it was reported that the Central Bank had fined 11 banks for violating economic norms. Also, the Banking Control Committee reviewed 14 issues related to the financial condition of credit institutions.