The Principle of Good Faith in the Banking Sector
https://doi.org/10.17803/1729-5920.2025.228.11.081-095
Abstract
Russian law shows an expansion of legal principles. Practice of their application indicates that the classical understanding of principles no longer fully corresponds to changed economic conditions. The author examines problems existing in defining the content of the principle of good faith, linked to the delineation of various criteria of good-faith conduct, the determination of which for banking activity poses difficulties in law enforcement practice. Courts do not always promptly opt to protect the rights of consumers of financial services. The paper notes that the large-scale transformation of banking operations has given rise to new types of unfair practices carried out by banks. This is primarily due to a decline in their income from traditional banking operations, which has driven credit institutions to seek profits from other sources, namely, non-banking services. The author identifies two new directions of banks’ activities that have increased profitability: 1) intermediary activity in non-banking markets, including within banking groups (holdings); and 2) introduction of remote banking services through technological modernization of banking offerings, which has broadened unfair practices by reducing consumer awareness and understanding of banking operations.
About the Author
I. E. Mikheeva
Kutafin Moscow State Law
Russian Federation
Russian Federation
Irina E. Mikheeva, Cand. Sci. (Law), Associate Professor, Department of Banking Law, Head of the Research and Education Center for Legal Regulation in the High-Technology Sector
Moscow
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Review
For citations:
Mikheeva I.E. The Principle of Good Faith in the Banking Sector. Lex Russica. 2025;78(11):81-95. (In Russ.) https://doi.org/10.17803/1729-5920.2025.228.11.081-095
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