Amendments to Consumer Credit Advertising Laws

The paper examines the amendments to the Advertising Law introduced by Federal Law No. 479-FZ dated 23 December 2024, which aim to establish additional requirements for the advertising of consumer loans (loans). The research is of a comparative legal and comprehensive nature: the author evaluates the provisions of the law not only based on a legal (comparative legal) analysis but also taking into account the psychological realities of modern advertising, the nature of its impact on consumers, and the specifics of consumer perception of financial services advertising. This approach has revealed the reasons why the amendments to the Advertising Law are not optimal for achieving the stated goals. Additionally, the research identifies ways to enhance the effectiveness of the legal regulation of consumer loan advertising, both in terms of its content and the structure of its legal regulation, where the primary norm-setting responsibility is assigned not to the legislator but to the financial market regulator. The regulator’s competence includes not only prudential but also non-prudential (behavioral) regulation of banking activities. Furthermore, the article addresses the relationship between traditional regulatory approaches and principle-based regulation.

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