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28.06.2024
14:30–16:00
Protecting Rights in the Financial Market: Keeping People Informed, Resolving Disputes, and Ensuring Fair Contractual Terms and Conditions
Congress Centre, conference hall D3
Broadcast
Modern conditions have led to a significant increase in accessibility and the speed with which financial services may be attained. Financial services have become more difficult for people without special knowledge to understand, and the application of artificial intelligence technologies by financial institutions presents a new challenge with the potential to multiply consumer vulnerabilities. In this context, the old problems associated with the imbalances in the relationship between consumers and financial institutions maintain their relevance. To ensure consumers are adequately protected when receiving financial services, we must consider the following: the financial services provided must be transparent. It is not uncommon for the consumer to be inundated with information without ever bringing to their attention the most important aspects and risks of a financial product. How can we make product information simple and easy to understand? What additional measures are needed? Contractual terms and conditions must be fair. Can the consumer influence the terms of the contract? How can we avoid provisions that infringe the rights of the consumer? Disputes arising with financial services should be resolved with the participation of the consumer. What problems do banks face with the settlement of debt and how can the Financial Ombudsman help? How can the pre-trial procedure balance the interests of creditors and borrowers?
Moderator
Mikhail Mamuta
Head of Service for Protection of Consumer Rights and Ensuring the Availability of Financial Services, Member of the Board of Directors, The Central Bank of the Russian Federation (Bank of Russia)
Speakers
Alexander Vishnevsky
Professor of the Faculty of Law, National Research University Higher School of Economics
Yury Voronin
Chief Financial Commissioner for the Rights of Consumers of Financial Services
Alexey Nidens
Deputy General Director, DOM.RF
Oleg Prusakov
Head of Department, Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing
Broadcast
Mikhail Mamuta
Head of Service for Protection of Consumer Rights and Ensuring the Availability of Financial Services, Member of the Board of Directors, The Central Bank of the Russian Federation (Bank of Russia)
Born: 29 September 1974; Voronezh.
Marital status: married.
Education:
1997 — Voronezh State University, Master of Physics.
2000 — Voronezh State University, qualification conferred: economist; major: Finance and Credit.
Candidate of Economic Sciences.
Speaks English
1997–1999 — Adviser, Administration of the Voronezh Region, Voronezh.
1999–2000 — Deputy Chief of Section, Main Department for Reserves, Consumer Market and Services, Administration of the Voronezh Region, Voronezh.
2000–2002 — General Director, the State Small Business Support Fund of the Voronezh Region, Voronezh.
2002–2004 — Director for Training and Regional Development, Acting Director, Director, Microfinance Centre Fund, Moscow.
2004-2014 — Director, Russian Microfinance Centre Fund, Moscow.
2007–2014 — concurrently: President, National Partnership of Microfinance Market Participants (Non-profit Partnership), Moscow.
2014-2016 — Head of the Main Office of Microfinance Market and Financial Inclusion Methodology, Bank of Russia, Moscow.
2016–2017 — Head of the Service for Protection of Financial Services Consumers and Minority Shareholders, Bank of Russia, Moscow.
2017 to date — Head of the Service for Consumer Protection and Financial Inclusion, Bank of Russia, Moscow.
Member of the Board of Directors, Bank of Russia (appointment effective 10 October 2018).
Marital status: married.
Education:
1997 — Voronezh State University, Master of Physics.
2000 — Voronezh State University, qualification conferred: economist; major: Finance and Credit.
Candidate of Economic Sciences.
Speaks English
1997–1999 — Adviser, Administration of the Voronezh Region, Voronezh.
1999–2000 — Deputy Chief of Section, Main Department for Reserves, Consumer Market and Services, Administration of the Voronezh Region, Voronezh.
2000–2002 — General Director, the State Small Business Support Fund of the Voronezh Region, Voronezh.
2002–2004 — Director for Training and Regional Development, Acting Director, Director, Microfinance Centre Fund, Moscow.
2004-2014 — Director, Russian Microfinance Centre Fund, Moscow.
2007–2014 — concurrently: President, National Partnership of Microfinance Market Participants (Non-profit Partnership), Moscow.
2014-2016 — Head of the Main Office of Microfinance Market and Financial Inclusion Methodology, Bank of Russia, Moscow.
2016–2017 — Head of the Service for Protection of Financial Services Consumers and Minority Shareholders, Bank of Russia, Moscow.
2017 to date — Head of the Service for Consumer Protection and Financial Inclusion, Bank of Russia, Moscow.
Member of the Board of Directors, Bank of Russia (appointment effective 10 October 2018).
Alexander Vishnevsky
Professor of the Faculty of Law, National Research University Higher School of Economics
Yury Voronin
Chief Financial Commissioner for the Rights of Consumers of Financial Services
Alexey Nidens
Deputy General Director, DOM.RF
Oleg Prusakov
Head of Department, Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing