{"id":132112,"date":"2021-02-12T09:37:35","date_gmt":"2021-02-12T09:37:35","guid":{"rendered":"https:\/\/armbanks.am\/2021\/02\/12\/249691\/"},"modified":"2024-12-15T13:43:28","modified_gmt":"2024-12-15T13:43:28","slug":"armenian-parliament-raises-fines-imposed-on-banks-for-violating-clients-rights","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/02\/12\/132112\/","title":{"rendered":"Armenian parliament raises fines imposed on banks for violating client&#8217;s rights"},"content":{"rendered":"\n<p><strong>YEREVAN, February 12. \/AR\u041a\u0410\/. <\/strong>The Armenian parliament passed Thursday in the first reading a bill that raises the amount of fines that may be imposed on commercial banks for violating consumer rights. The bill was endorsed by a vote of 93 to one and 19 abstentions.<\/p>\n\n\n\n<p>Artak Manukyan, an MP from the ruling My Step bloc, a co-author of the bill, said the amount of fine for the first violation within a year has been raised&nbsp;&nbsp;up to 500 thousand drams, but not less than 300 thousand drams. In case of a second violation the fine rises&nbsp;&nbsp;up to 1 million drams, but not less than 500 thousand drams, and a third violation within&nbsp;&nbsp;a year would entail a fine of&nbsp;&nbsp;up to 2 million, but not less than 1 million drams.<\/p>\n\n\n\n<p>The bill was earlier approved by the parliamentary committee on fiscal and budget issues. Under the current law, the Central Bank may fine a commercial bank for violating a consumer&#8217;s rights in the amount of 100,000 drams for a repeated violation within one year and only after issuing a warning. The fine for a another violation is 200 thousand drams, and for the third one is 500 thousand drams.<\/p>\n\n\n\n<p>According to Manukyan, the amount of fine that may be imposed by the financial ombudsperson on a bank for violating consumer&#8217;s right is 300 thousand drams, which are given to the affected client in case he\/she is right. The amount of administrative punishment that the regulator imposes on a bank is 100 thousand drams, which are transferred to the state budget.<\/p>\n\n\n\n<p>According to the Central Bank, it&nbsp;&nbsp;resorts to such measures 4 times a year, as it tries to apply preventive measures. ($ 1 &#8211; 523.13 drams) &#8211; 0&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Armenian parliament passed Thursday in the first reading a bill that raises the amount of fines that may be imposed on commercial banks for violating consumer rights. The bill was endorsed by a vote of 93 to one and 19 abstentions<\/p>\n","protected":false},"author":1,"featured_media":174760,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12163,12309,309],"class_list":{"0":"post-132112","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banks-en-en","8":"category-news","9":"tag-armenia-2","10":"tag-banks","11":"tag-parliament","12":"tag-309"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/132112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=132112"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/132112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/174760"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=132112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=132112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=132112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}