Issue page

DOI: 10.47026/2499-9636-2023-4-96-103

Timofeeva T.F., Skuratova I.N.

Issues of protecting citizens' rights in the field of financial services

Keywords: credit institution, bank deposit, loan agreement, consumer rights, financial services, savings services, consumer of banking services

Today, in the Russian Federation, situations of violating the rights and interests of consumers of financial services are quite often allowed, which negatively affects the economic situation of citizens and undermines confidence in the banking system of the state. The purpose of the study is to analyze the judicial practice and to develop recommendations for consumers of savings services and services on providing borrowed (credit) funds, compliance with which will significantly reduce the risks arising from concluding and executing bank deposit and loan agreements. Materials and methods. The materials of the reports made for the International Confederation of Consumer Societies on the state of protecting the rights and interests of consumers of the savings services market in Russia were used. General and specific methods were used as research methods, including system-legal, logical, structural-functional ones and others. Study results. Based on the analysis of modern legislation, law enforcement and judicial practice of the Russian Federation, the authors have identified the most typical violations of consumer rights in the market of savings services and services for providing borrowed (credit) funds. Of particular interest are cases related to toughening the requirements for personal identification and security of banking operations in the context of digitalization of the economy, which cannot but affect traditional procedures for processing and withdrawing funds under a bank deposit agreement. The article analyses the most common situations of violating the rights and legitimate interests of consumers of savings services and services for providing borrowed (credit) funds in Russia during execution of bank deposit agreements and loan agreements. The issues that require regulation in order to avoid violation of the rights and interests of the parties to the above-mentioned agreements have been studied. Recommendations are also proposed to reduce risks when implementing protection of savings services consumers, which was the ultimate goal of the study. Conclusions. Realization of the citizens' constitutional right to judicial protection of banking services, on the one hand, reveals acute and obvious problems in this area, on the other hand, contributes to optimization of banking and civil legislation. In the context of financial services digitalization, the interests of citizens are not sufficiently protected. However, solution to the problem should be comprehensive, since cases of cybercrime are often associated with mobile communications; therefore, they depend on the effectiveness of control and supervision in this area. It is important to provide the consumer with preliminary structured information that enables him to realistically assess the risks and, on this basis, make a well-founded decision about opening or managing an account.


  1. Zatonskikh I.T. Kreditovanie malogo i srednego biznesa na sovremennom etape razvitiya sistemy l’gotnogo kreditovaniya v RF [Lending to small and medium-sized businesses at the current stage of development of the preferential lending system in the Russian Federation]. Tatishchevskie chteniya: aktual’nye problemy nauki i praktiki: materialy XVII Mezhdunar. nauch.-prakt. konf.: v 3 t. [XVII International. scientific-practical conf Tatishchev readings: current problems of science and practice. 3 vols.]. Tol’yatti, 2020, pp. 234–237.
  2. Zmievskii D.V. Sovershenstvovanie pravovykh mekhanizmov protivodeistviya otmyvaniyu denezhnykh sredstv pu-tem ispol’zovaniya elektronnykh platezhnykh instrumentov [Improvement of legal mechanisms for countering money laundering through the use of electronic payment instruments]. Oeconomia et Jus, 2023, no. 2, pp. 64–70.
  3. Napravleniya zashchity prav potrebitelei finansovykh uslug. Informatsionnyi doklad [Areas of protecting the rights of consumers of financial services. Information report] Available at: (Access Date: 2023, Nov. 5).
  4. Opredelenie Sudebnoi kollegii po grazhdanskim delam Sed’mogo kassatsionnogo suda obshchei yurisdiktsii ot 18 fevralya 2020 godа [Determination of the Judicial Collegium for Civil Cases of the Seventh Cassation Court of General Jurisdiction dated February 18, 2020]. Available at: (Access Date: 2023, Nov. 01).
  5. Tsentral’nyi Bank Rossiiskoi Federatsii. Ofitsial’nyi sait [Central Bank of the Russian Federation. Official site.] Available at: (Access Date: 2023, Nov. 01).
  6. Khuzhin A.M., Aleksandrova N.V. Novye tsifrovye prava i ikh vidy: problemy yuridicheskoi kvalifikatsii v grazhdanskom zakonodatel’stve [New digital rights and their types: problems of legal qualification in civil law]. Oeconomia et Jus, 2022, no. 2, pp. 98–105.
  7. Chetyrnadcatyj promezhutochnyj otchet po kontraktu no. FEFLP/QCBS-4.11 Provedenie nezavisimogo monitoringa v oblasti zashhity prav potrebitelej finansovyh uslug [Fourteenth interim report under contract no. FEFLP/QCBS-4.11 Conducting independent monitoring in the field of protecting the rights of consumers of financial services] Available at: (Access Date: 2023, Nov. 8).
  8. Yurevich A.V. Doverie rossiyan bankovskoi sisteme [Russians’ trust in the banking system] Vestnik Rossiiskoi akademii nauk, 2019, no. 12, 1240–1247.

About authors

Timofeeva Tatiana F.
Candidate of Law Sciences, Associate Professor, Department of the Civil Legal Disciplines, Chuvash State University, Russia, Cheboksary (; ORCID:
Skuratova Inna N.
Candidate of Law Sciences, Associate Professor, Department of the Private Law, Cheboksary Cooperative Institute (branch) of the Russian University of Cooperation, Russia, Cheboksary (; ORCID:

Article link

Timofeeva T.F., Skuratova I.N. Issues of protecting citizens’ rights in the field of financial services [Electronic resource] // Oeconomia et Jus. – 2023. – №4. P. 96-103. – URL: DOI: 10.47026/2499-9636-2023-4-96-103.