14 illegal lenders identified in the Nizhny Novgorod region in 2026

      June 8, 2026 16:26 Economy In the first quarter of 2026, 14 companies that illegally issued loans to citizens were discovered in the Nizhny Novgorod region. This was reported by the Volga-Vyatka branch of the Bank of Russia. Such companies do not have the right to provide loans, and cooperation with them can result in inflated interest rates and loss of pledged property for clients. As noted by the Bank of Russia, citizens should be wary of demands for advance payments for loans—such as for checking credit history, insurance, or notary services. After obtaining the personal data of the borrower, illegal lenders can issue a loan in their name or steal money from their accounts. Sometimes such organizations disguise themselves as pawnshops without being registered in the regulator's registry. A legal pawnshop must issue a pledge ticket in two copies when signing a contract. The document specifies the name and address of the company, the loan amount, interest rate, contract duration, and repayment schedule. Additionally, cases of illegal investment solicitation have been recorded in the region. "Organizations that are not under the supervision of the Bank of Russia and not regulated by law do not have the right to publicly attract citizens' funds as investments. They can be fined for this," the branch noted. Banks, brokers, managers, and leasing companies, as well as consumer societies—only from their members—are allowed to work with private investors' money, as well as organizations issuing securities within the framework of current legislation. Before using financial services, specialists recommend checking the company in the Financial Organizations Directory on the Bank of Russia's website. It is also worth ensuring that it is not included in the list of companies with identified signs of illegal activity in the financial market. Earlier, it was reported that the Ministry of Finance denied rumors about a ban on cash dollars in Russia. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay updated on major events, exclusive materials, and operational information. Copyright © 1999—2025 NIA "Nizhny Novgorod". When republishing, a hyperlink to NIA "Nizhny Novgorod" is mandatory. This resource may contain materials 18+