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The deputies of the RA NA My Step Faction Artak Manukyan and Babken Tunyan initiated amendments to the law on Attraction of Bank Deposits and two related laws. It is proposed to increase the amount of fines in case of providing loans to the consumers or violating the regulations designed for the implementation of attracting deposits.

According to Artak Manukyan, the goal of the legislative package is the protection of the consumers’ rights.

The key rapporteur Artak Manukyan noted that the package had not be amended in the content after passing it in the first reading.

The co-rapporteur Yeghishe Soghomonyan has noted the increase of the amount is aimed at preventing the violations, but not fining the banks.

On March 16, the package of the draft laws was debated at the NA Standing Committee on Financial-Credit and Budgetary Affairs in the second reading and would be included with the endorsement in the draft law of the NA regular sittings’ agenda.