Education

In 1997 he graduated from Voronezh State University, he received a master's degree in physics. In 2000, there was a diploma of an economist in VSU in the same time, completing training in the specialty "Finance and Credit".

Candidate of Economic Sciences

Labor activity

In 1997-2000, he worked in the administration of the Voronezh region in Voronezh. He got a consultant, since 1999 he was Deputy Head of the Department of Main Directorate for Resources, Consumer Market and Services.

Since 2000, he served as Director General of the State Fund for Support for Small Entrepreneurship of the Voronezh Region.

In 2002-2004 He worked in the Microfinance Center Foundation in Moscow. He was the director of learning and regional development, acting director, director of the Foundation.

From 2004th of the ten years, the director of the Russian Microfinance Center Foundation was director.

In 2007-2014 Partly, headed by NP "National Partnership of the Microfinance Market participants" in the rank of the president.

From the 2014th works in the Bank of Russia. He settled in the Central Bank to the position of the head of the Main Directorate of the Microfinance Market and the Financial Availability Methodology, from 2016 he led the Service for the Protection of Consumer Rights of Financial Services and Minority Shareholders.

Since 2017 - Head of Consumer Protection Service and ensuring the availability of financial services to the Bank of Russia.

Hobbies

He loves to travel, including along with colleagues in the financial market.

Family status

Both tasks are extremely important, but they need to be solved taking into account the specifics of each.

- I still divided these two problems. One topic is the regulation of creditors, as one of the debt suppliers. And the other - collector activity. Both tasks are extremely important, but they need to be solved taking into account the specifics of each. I'll start with the first. In fact, when they talk about high interest on MFI loans, two different phenomena are mixed: Actually microfinance and "loans to salaries" (Payday loans). It happened that they found themselves in one regulatory field. Although in the world these are two different types of activities that are regulated differently and perceived in different ways. Nowhere else with the word Microfinance will not have an association with (Payday Loans).

Microfinance is, classically, loans for business that help the realization of the entrepreneurial initiative. And Payday Loans is short loans at high rates that give people the opportunity to take money for a short time in emergency cases without a deep analysis of the borrower's profile. Therefore, we recently divided these two concepts in the law - soon the company will be called differently: MFI entrepreneurial financing, or business MFIs, and MFIs of consumer financing.

- Now the MFIs and loans before salary will only be called differently or and regulated in different ways too?

- Of course, they will also be regulated in different ways, otherwise what's the point of changing the names.

- And yet the reason that borrowers fall into debt boalan are ultra-high loan rates, the media call rates in thousands of percent. Are you going to somehow regulate the rates of MFIs?

- Approval that the loan rates of MFIs are not regulated, do not correspond to reality. Since July 2014, the Consumer Credit Act has established the same legal regulation for both banks and non-bank lenders (MFIs, cooperatives, pawnshops). Including the rule on which the maximum full cost of the loan (loan) in the relevant category cannot more than a third of the average value. So there can be no speech about any thousand percent in the adjustable sector. Although loan rates before the salary still remain high, sometimes hundreds of interest, it should still be noted that, thanks to the strong competition and the need for full disclosure of information by microfinance organizations, they decreased throughout the past year.

Implemented truly systemically meaningful innovation in the law, which enters into force from the end of March of this year.

Another question: Is there enough existing regulation to control risks in this segment? In our opinion, no, more serious measures are required. And we have just implemented a truly systemically meaningful innovation in the law, which comes into force from the end of March of this year. We'll talk about it more than a little later.

By the way, in most cases described in the media, when loan rates really reached thousands of interest, it was about illegal, or "black", creditors who acted in violation of the law outside the regulatory field. Recently, thanks to our conscientious efforts with the General Prosecutor's Office and the ONF, we learn to effectively deal with such violations, but in the regions illegal creditors still periodically appear, which can also be discounted when making any decisions.

The main problem with "loans to salaries" occurs when, taking money for several days, the borrower gets into late and in fact cannot settle with the lender for, for example, the year. Then his debt grows to significant values, it is transmitted to collectors and these are unacceptable and even truly tragic stories.

Taking a debt of 5 thousand rubles, you will not be able to turn out to be percentage more than 20 thousand rubles at any delay duration.

To solve this problem, in December 2015, at the initiative of the Bank of Russia and the Government of the Russian Federation, amendments were adopted to the Law on MFIs, which come into force in March 2016. These amendments establish a limit debt limit - no more than four-time exceeding the total amount of interest debt over the loan amount. If you explain on your fingers, then at the debt of 5 thousand rubles, you will not be able to turn out to be more than 20 thousand rubles percentage at any delay duration. This measure is an additional in relation to the current regulation of marginal interest rates in the consumer lending segment, as well as to limit the limit for the selection of penalties and fines for the delay (not more than 0.1% per day) established by the consumer credit legislation.

Moreover, I will immediately say that the first step is made, but not the last. We consider it right and necessary to further reduce this indicator to two, which generally matches world practice. Other measures to limit social risk in this credit segment are also analyzed.

- But will the MFI business will be cost-effective in this case? Will this market can't kill?

- We do not need any market in the market name. There are two models of consumer loans: civilized and wild. Civilized, this is when a microfinance company builds its risk model so that she has three non-returns for ten issues, relatively speaking. And the money is earned due to the correctly calculated mathematical model, and the debtors work within the framework of generally accepted ethical standards, helping them find a solution, and not knocking debts. Such companies are definitely in our market, mainly large players with understandable shareholders. Although directly with the size of the business, this is not connected, decent can be at any scale.

The uncivilized business model is when, on the contrary, only three loans are returned on time, and a significant part of income is extracted due to the delay. This model is bad for both the lender and for the borrower, and we will be removed from the market.

- The Bank of Russia strongly regulates almost all parties to the activities of banks. Are you going to regulate the MFI in the future?

- In accordance with the Law "On Consumer Lending", activities and banks and MFIs on consumer lending are absolutely equally equally. The MFIs are presented all the same requirements. The law "On consumer lending" applies to them equally.

As for the overall supervision, we constantly develop it - whether it is issues of forming reserves or issues of financial stability.

- And nevertheless, how to be with collectors? On the wave, a fairly fair perturbation by wild methods, which are used by the most gravily recyculations, calls to radically limit the activities of collector agencies. Who should regulate collectors?

- The Bank of Russia believes that the activities to collect overdue debts, regardless of who deals with this is a special agency, a bank, a microfinance organization or a credit consumer cooperative, should be governed by strict standards. This requires the adoption of federal legislation. The Bank of Russia believes that the government will determine the federal executive authority responsible for regulation and supervision of collector activities.

Banks tightened customer requirements, and Russians are increasingly turning to loans to microfinance organizations (MFIs). Bets for such loans are sometimes exemplary, so more and more people fall into the debt. The head of the bank of the Bank of Russia to protect the rights of consumers of financial services and minority shareholders, Mikhail Mamut told Lente.ru about why IFR is needed, as not to fall into the trap of black lenders and how to properly use "loans before salary."

About complaints and terrible percentages

"Lenta.ru": Mikhail Valerevich, as the Head of Service for the Protection of Consumer Rights Finuss, you can evaluate how recently the flow of complaints about microfinance organizations (MFIs) increased?

Mamuta: Approximately two-thirds of complaints and appeals entering the Bank of Russia relate to credit institutions, that is, banks. Then there are insurance companies. In the overall flow of complaints and appeals to non-credit institutions, they account for about 75 percent. And the third place, but with a large margin, microfinance organizations are consistent with consistently - this is about 10 percent of complaints about non-credit financial organizations.

I have a friend, gathered to take a loan in a microfinance organization under perfectly terrible interest. I asked him: "Why don't you turn to the bank?" And he says that he does not give money to him - they consider not a reliable borrower, and the credit history is bad. Is the MFIs are created in order to collect "bank trash"?

Of course not for this. Microfinance in Russia appeared at the end of the nineties - the beginning of the two thousandths. It was necessary first of all in order to provide access to the borrowed funds to small entrepreneurs, who could not receive a loan in a bank for different reasons (there is no territorial separation of the bank, or the entrepreneur has not yet established itself as a borrower).

In the middle of the two thousandths in the country, first of all in the banking sector, the growth of consumer lending began. MFIs also became a little to master this sphere, issuing consumer loans to a million rubles with interest rates above banking (from 40 percent per annum) those borrowers who had no opportunity to receive a bank loan.

The 2008 crisis forced banks to tighten the requirements for borrowers, raise rates. Citizens have difficulties with dedication or debt service, a credit history has deteriorated. Many have lost opportunities to contact banks. But the need to reduce the ends with the ends at the expense of loans is not going anywhere, on the contrary, only increased.

Photo: Alexander Miridonov / Kommersant

And on this background there were so-called "loans to salaries" - Payday Loans. This is a fairly common type of loan and in Europe, and in the USA. The idea is to allow a person to "intercept before paying." To the classic microfinance, by the way, this relationship does not have. While such loans are applied for their intended purpose, that is, they are taken for several days and return on time, they do not have a large economic risk. In the short range, the absolute overpay looks non-critical. Let's say, a person took five thousand rubles, and gave 5.5 thousand in a few days.

But the ethical side of this business is all the time in the Center for Public Discussion - in England, and in the United States. Still, several hundred percent percent per annum, even a loan taken for a short time, is much more than the usual rates on consumer loans. In general, a rather controversial product.

About tightening the rules of the game

That is, the borrower, unreliable from the point of view of the bank, is not able to give a loan under 19 percent per annum (such a bet in large state banks), may well serve a loan at 100-200 percent?

I repeat once again: it is not about to use the "loan to salary" for several years or even months. Such loans are issued for several days. But if the borrower is not able to repay the loan in time (and it happens that it was not going), its debt really grows into an astronomical amount.

The fact is that when issuing "loans to salaries", the solvency of the client is estimated superficially. The risk of no return is very high, and this risk is laid at the rate. In most countries where Payday Loans market reaches significant volumes, compulsory mechanisms for limiting the limit debt on such loans and their number in one hands during the year are introduced. Special rules for the prevention of the risk borrower are often operating.

In Russia, the rights of consumer loans since 2014 are protected by a limit on the maximum permissible value of the full cost of the loan, which is quarterly published on the Bank of Russia's website. The company has no right to offer a product at a rate exceeding this indicator, and the consumer should know about it. If the company offers a bet above, it means that it should not be dealing with it.

Why was it all calmly, as you say, and then there were problems?

The problems have aggravated lately when citizens decreased income, and the conditions for issuing loans in banks even more tightened.

I burst the bubble of the consumer loan, which was inflated in the previous years. Part of the borrowers faced the problem of refinancing their obligations, they were in the face of the default. In search of financing, people are knocking on all doors, and MFIs are one of them. There are still pawnshops, and there are also the market for illegal, black lenders (many at the same time mistakenly take illegal and none regulated creditors per MFIs).

Photo: Anatoly Zhdanov / Kommersant

The complex financial situation led to the fact that people began to use "loans to salaries" are not intended: trying to solve their long-term financial problems with their help, first of all to serve the debt to banks. As a result, the excuse is growing rapidly, on the one hand, and the overall level of citizen debt - on the other.

What did the Central Bank undertake?

Understanding all the risks of rapid growth of slaughterism in the Loan Sector sector, the Bank of Russia, together with the Ministry of Finance, initiated a number of amendments to protect the rights of consumers to microfinance legislation.

Including, from March 29, 2016, amendments, limiting the limiting interest to the "body" of the loan, entered into force. Today, the amount of interest may not exceed the loan amount of more than four times, regardless of the term of use such a loan and delay.

Immediately emphasize that from our point of view it was the necessary, but insufficient measure. We gave the industry some time to adapt to new conditions, and in the spring of the State Duma, deputies and members of the Council of the Federation were made supported by our offer to reduce this limit to three-time. And for those categories of borrowers who are deprived of the opportunity to serve the debt (that is, they fall into the delay), and at all to two-time (including penalties and fines).

The amendments were recently accepted with the law on collectors and take effect from the New Year. As a result, the borrower's security is enhanced, and at the same time we give to understand the market, which will not allow creditors to earn money on delay.

Why such a stepped scheme? They would have taken and immediately limited to three or two sizes of debt.

We must not forget that there is an illegal lending market. Excessive rigidity, which does not give a small adaptation period, could lead to a significant part of companies issuing "loans to salaries" would flow into the shadow zone. And there our regulation does not work, and the rights of consumers are not protected - it remains only to catch "black lenders" with the help of the police. The adjustable market in this segment must perform the role of a social valve that prevents lenders and borrowers to the gray zone.

Photo: Safron Golikov / Kommersant

What rules should the borrower be guided?

First, you need to understand why he takes a loan, secondly, it is also good to represent, from which sources it is to repay, and thirdly, make sure that the benefits overlap costs. If there is no answer to at least one of these questions, it means that you should not take a loan.

The worst option - if a citizen understands that he will not be able to return money, but, nevertheless, he takes them in debt, as he needs to solve some problem here and now. But the loan is not a wand-corrosive for all occasions, but a tool with their risks and costs.

There is such a concept - financial accessibility. It consists of the availability of physical, price, assortment and mental. The physical and assortment availability of financial services is now at a fairly high level: almost any need for a citizen can be satisfied with this or that financial service or product. But you can't say so about the price availability. The cost of some financial instruments is still not all for the pocket, and in addition, the ability of a person to realize the essence of the service and correctly understand the risks associated with its use (mental accessibility), are also far from ideal.

Financial accessibility in any price bank of Russia is not needed. That is why today we consider our priority to improve the quality of financial accessibility, the level of financial literacy of the population and at the same time impose requirements for improving the quality of services to market participants. Three-time and twofold percent limit on microloan - just measures from this series.

What you need to know about the organization where I want to take a microloan?

To begin, it is important to make sure that this organization is supervised by the Bank of Russia. Therefore, it should be not lazy, spend two minutes, go to the website of the Central Bank and make sure that this organization is in the register of microfinance organizations.

In the future, we plan to launch a special application for smartphones, with which a citizen will be able to complain to the regulator on the quality of financial services, evaluate the service and give proposals for its improvement. At the same time, we are going to integrate there access to registries of participants in the financial market so that you can quickly check the company's status.

Often, a person takes money from a certain office, and then it turns out that its activities are not regulated by anyone. Including this means that we cannot protect the consumer, as our demands on the limit amount of debt, disclosure, other restrictions on it do not apply. Therefore, the borrower exposes itself extremely high risk.

And such companies no one punishes?

There are administrative penalties for illegal activities for issuing consumer loans - fines. While they are not very significant - from 200 thousand to 500 thousand rubles. And often illegal lenders are easier to pay and continue their activities. Therefore, we insist on tightening administrative responsibility and even the introduction of criminal.

We offer to introduce fines that are multiple increase with each subsequent recorded violation. For example, for the first violation - a million rubles, for the second - two million and so on. And then criminal liability comes. We are supported by the Ministry of Finance, and senators, and deputies - we hope, soon this law will be.

"When issuing" loans to salaries "the solvency of the client is now estimated quite superficially, therefore the risk of no return is very high, and this risk is laid at the rate"

Photo: Victor Korotaev / Kommersant

Suppose it took a loan, and then it turned out that he could not give it. What should he do?

Today there is no single consumer interaction algorithm with MFIs, so a citizen sometimes does not even understand who to contact if there are problems with repayment. In addition, overdue duty can be transferred to collectors, and without informing about this borrower itself. A man calls, require the return of the loan, and it is difficult for him to understand who exactly and in what agreement received the right to demand expired arrears from him. From misunderstanding born distrust of the market as a whole. Therefore, we strive for the most detailed description of the consumer's consideration algorithm to the MFI, an answer to the complaint - until this complaint comes to the Bank of Russia.

The algorithm (it should become a standard for interacting with the consumer of the service) Such: First, a person should contact his problem in the organizing itself, and there are obliged to give him a motivated answer for what is happening during the prescribed period. If this answer does not suit him and he believes that his rights are violated, then he comes to us for clarification or for help, or to court - in the case of a civil dispute. In this chain, there is not enough important institution - a financial ombudsman, which in developed countries is engaged in resolving up to 70 percent of such problems.

It should also be remembered that the recently adopted a law on collecting activities, not only the regulatory activities of professional recovers of overdue debts, but also in detail the allowable norms and rules for the interaction of professional lenders with the debtor, regardless of who charges the debt: a bank, microfinance organization or collector . And besides, a year ago, a law on bankruptcy of individuals entered into force, allowing a citizen to declare himself with bankrupt with the loss of arrears service sources.

to protect the rights of consumers and ensuring the availability of financial services.

Mikhail Mamut was born on September 29, 1974 in the city of Voronezh. He graduated from Voronezh State University on the specialization of Nanoelectronics and Nanotechnology. Is a master of physics. The second higher education is "Finance and Credit. Banking".

Since 1997, it has been working in financial and credit technologies for small businesses and microfinance. In the period 1997 to 2000, he worked in the administration of the Voronezh region, supervised the support of small businesses. He has experience in the anti-crisis manager in the banking sector. As an expert participated in the development of the methodological recommendations of the Federal Service for Financial Recovery of the Russian Federation for Anti-Crisis Management.

Since 2000, for three years, Mikhail Valerevich Mamut held the post of Director General of the Voronezh Regional Fund for Small Entrepreneurship Support. Engaged in the creation and development of a microfinance program, building a regional microfinance network in areas of the region.

Since August 2003, during the nine years, he was the director of the Russian Microfinance Center, from April 2006 he worked as president of the National Partnership of the Microfinance Market participants. Mikhail Valerevich was in the Council for the Development of Small and Medium Entrepreneurship at the Chairman of the Federation Council of the FS of the Russian Federation.

Mikhail Mamut takes an active part in the formation of the ideology of creating a comprehensive financial system in Russia, in the development of bills aimed at improving access of the population and small businesses to financial services.

From February 2011 he is the Chairman of the Microfinance and Development Council. From the same year, he is an adviser to the head of the Federal Service for Financial Markets. From November 2012, he was the President of the Russian Microfinance Center. From February 28, 2014, Mamut Mikhail Valerevich was appointed head of the main management of the microfinance market and the financial access methodology of the Central Bank of the Russian Federation.

By order of the Chairman of the Bank of Russia from April 25, 2016, the head of the Mamut Mother Microfinance Market and Mometa Methodology Mamuta Mikhail Valerevich was transferred to the position of head of the Service for the Protection of Consumer Rights of Financial Services and Minority Shareholders.

In October 2018, Mikhail Mamut was appointed head of the Central Bank of the Russian Federation to protect the rights of consumers and ensuring the availability of financial services.

Mikhail Mamuta awards

Gratitude to the government of the Russian Federation for active participation in the implementation of the tasks of modernization of the domestic economy

Thanks to the Council of Federation FS RF for a great contribution to the development and strengthening of entrepreneurship in the Russian Federation, as well as the improvement of legislation in the field of entrepreneurial activity

Thanks to the adoption of the Presidential Administration for a significant contribution to the development and support of small and medium-sized businesses

Honorary Signs of Support of Russia

Honorary Sign of the Chamber of Commerce and Industry of the Russian Federation