{"id":249739,"date":"2021-03-24T11:09:21","date_gmt":"2021-03-24T11:09:21","guid":{"rendered":"https:\/\/armbanks.am\/2021\/03\/24\/249739\/"},"modified":"2021-03-24T11:09:21","modified_gmt":"2021-03-24T11:09:21","slug":"armenian-parliament-raises-fines-imposed-on-banks-for-violating-customers-rights","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2021\/03\/24\/249739\/","title":{"rendered":"Armenian parliament raises fines imposed on banks for violating customers&#8217; rights"},"content":{"rendered":"\n<p><strong>YEREVAN, March 24. \/AR\u041a\u0410\/.\u00a0<\/strong>The Armenian parliament has passed today in the second and final reading a bill that raises the amount of fines that may be imposed on commercial banks for violating consumer rights.<\/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;up to 500 thousand drams, but not less than 300 thousand drams.<\/p>\n\n\n\n<p>In case of a second violation the fine rises&nbsp;up to 1 million drams, but not less than 500 thousand drams, and a third violation within&nbsp;a year would entail a fine of&nbsp;up to 2 million, but not less than 1 million drams.<\/p>\n\n\n\n<p>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 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.<\/p>\n\n\n\n<p>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;resorts to such measures 4 times a year, as it tries to apply preventive measures. ($1 &#8211; 528.12 drams) &#8211; 0&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Armenian parliament has passed today in the second and final reading a bill that raises the amount of fines that may be imposed on commercial banks for violating consumer rights<\/p>\n","protected":false},"author":1,"featured_media":175474,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15837,12309,15260,12750],"class_list":{"0":"post-249739","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-parliament","11":"tag-violating","12":"tag-purchase"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249739","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=249739"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/249739\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media\/175474"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=249739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=249739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=249739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}