Nikiforova, A. E. Banking Secrecy: Bank’s Right or Responsibility?

Abstract: Improper fulfillment of a loaner’s responsibility to recover a credit destabilizes banking and other credit activities. In order to find the way out of this situation, banks transfer their credit agreement rights to debt collection agencies through assignment of claims. Moreover, they also transfer information which is considered to be a banking secrecy. This is the violation of the current legislation because a debt collection agency cannot be authorized to receive such information.

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