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On July 17, 2026, the Bank of Russia announced that the Federation Council approved legislation requiring credit institutions to provide comprehensive information about their products and services. The law, developed with the Bank of Russia's participation, establishes requirements for the order, method, form, and timelines for disclosing product and service information through a Standard for Credit Organization Activities. The Bank of Russia identified a significant gap in current practices. Analysis of complaints received by the regulator revealed that consumers frequently do not receive complete information when opening deposits, taking loans, or accessing other financial services through mobile applications or bank websites. Credit institutions typically emphasize attractive product features while downplaying or incompletely disclosing risks and special conditions. Additionally, consumers often struggle to immediately understand which product or service is being offered. The Bank of Russia noted instances where banks present broker services and asset management company services within savings sections, despite investment products not guaranteeing returns. Because such information does not constitute advertising, existing advertising regulations do not apply to it. The new legislation addresses these disclosure gaps by regulating the content of standards governing client information procedures across credit institution offices, websites, and applications. This measure aims to increase consumer awareness and eliminate the practice of banks using "dark patterns"—design techniques that manipulate customer behavior. The law enters into force on September 1, 2027, providing credit institutions approximately 14 months to implement compliant disclosure procedures across all distribution channels.