The NBU fined CreditUP for violating the requirements of the "collector" law

The National Bank revealed the fact of violation of the requirements of the legislation on interaction with consumers in the settlement of overdue debt on the part of Wellfin LLC, which provides microcredit services under the CreditUP brand. This is stated in the message of the regulator.

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What were they fined for?

This is a violation of the requirements for ethical behavior established by Article 25 of the Law of Ukraine “On Consumer Credit”.

In connection with this, the National Bank applied a measure of influence to LLC “Wellfin” in the form of imposing a fine in the amount of 51,000. hryvnias for violating the requirements of ethical behavior established by law.

Such a decision was taken by the Committee for Supervision and Regulation of Non-Banking Financial Services Markets on January 30, 2023.

During the period of martial law, LLC “Wellfin” carries out the settlement of overdue debts of consumers of financial services under consumer credit agreements.

Author: News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments