Behavioral supervision of the Bank of Russia over the activities of microfinance organizations providing loans

The article discusses issues related to the implementation of behavioral supervision of the Bank of Russia over the activities of microfinance organizations, including the provision of loans. The main purpose of the study is to identify changes in approaches to supervision in the microfinance market since the transition to mega-regulation, identify the reasons for the emergence of a new type of supervision aimed at protecting the rights of consumers of financial services, and analyze the work of the mega-regulator in this area. The study examines in detail the issues of legal regulation of the implementation of behavioral supervision in this area and the consolidation of relevant provisions at the level of normative legal acts. Special attention is paid to the results of this supervisory activity of the Bank of Russia, in particular, their reflection at the level of the relevant acts of the mega-regulator. The methodological basis of the research is the general scientific method of analysis, private scientific methods of formal legal analysis and interpretation. The results of the application of behavioral supervision by the Bank of Russia are analyzed and it is shown that this type of supervision is an effective tool for supervisory activities, allowing not only to monitor compliance with the requirements of current legislation, but also to combat unfair practices on the part of supervised organizations. The importance of the preventive component of behavioral supervision is separately noted. Problematic aspects in legal regulation are considered, including the lack of a legal definition of the relevant term and special norms at the level of normative legal acts, and, as a result, the need to improve the legal regulation of behavioral supervision. The novelty of the study lies in the proposed concept of behavioral supervision of the Bank of Russia over the activities of microfinance organizations, as well as in the analysis of the use of a new type of supervision by the mega-regulator in relation to specific subjects of the financial market.

Bank of Russia, megaregulator, microfinance organisation, provision of loans, supervision, behavioural supervision, financial consumer, information letter, consumer rights protection, unfair practices