Fundamental Provisions of the Consumer Credit Law

The following graduate paper is dedicated to such fundamental provisions of the Consumer Credit Law as pre-contractual interaction of parties, cooling-off period, bank fees, early repayment and unfair contract terms. Focusing on Russian regulation of these issues, the author, however, compare it with foreign experience. Particularly, special attention is paid to European regulation based upon Directive 2008/48/EC, which had a significant influence on the Russian Federal Law on Consumer Credit (Loan). Nevertheless, the author finds quite disputable and tries to suggest possible solutions concerning some provisions of this law such as excessive list of conditions for consumer credit contract; non-applicability of article 428 of the Russian Civil Code to its individual contract terms; inefficiency of the construction, included in article 428 of the Russian Civil Code; prohibition of majority bank fees and lack of regulation for linked credit agreements cancellation.