NewsWhore
02-15-2011, 02:10 PM
The Association of Commercial Banks is accusing the ProConsumidor, the government consumer defense body, of threatening the reputation and the stability of the sector with its campaign demanding the registration of the standard-form contracts issued by the financial intermediaries.
According to the bankers, the state consumer protection agency has accused the financial institutions of being in contempt of court and that they have not complied with the dispositions of the Superintendent of Banks. The bankers argued that the ProConsumidor campaign undermines the credibility of the entities of financial intermediaries (banks) and of the Superintendent of Banks and incites suspicion and judicial insecurity of the institutions that make up the financial system.
Diario Libre reports that the Bank Association says that after the Superintendent of Banks cleared up public concerns about the registration of the boiler-plate/standardized contracts, ProConsumidor precipitated the confrontation at the end of last week by sending out summons to the financial institutions (banks) ordering them to deliver the contracts mentioned to the consumer agency, but they argue that ProConsumidor has shown that it is not interested in the standardized contracts.
The contracts controversy began after ProConsumidor demanded more transparency so that consumers knew beforehand the interest rates they would be charged for credit card use. The debate also revolves around the insistence of banks to charge interest on total credit for the monthly period, despite the credit card user having made partial repayments during the billing period.
More... (http://www.dr1.com/index.html#7)
According to the bankers, the state consumer protection agency has accused the financial institutions of being in contempt of court and that they have not complied with the dispositions of the Superintendent of Banks. The bankers argued that the ProConsumidor campaign undermines the credibility of the entities of financial intermediaries (banks) and of the Superintendent of Banks and incites suspicion and judicial insecurity of the institutions that make up the financial system.
Diario Libre reports that the Bank Association says that after the Superintendent of Banks cleared up public concerns about the registration of the boiler-plate/standardized contracts, ProConsumidor precipitated the confrontation at the end of last week by sending out summons to the financial institutions (banks) ordering them to deliver the contracts mentioned to the consumer agency, but they argue that ProConsumidor has shown that it is not interested in the standardized contracts.
The contracts controversy began after ProConsumidor demanded more transparency so that consumers knew beforehand the interest rates they would be charged for credit card use. The debate also revolves around the insistence of banks to charge interest on total credit for the monthly period, despite the credit card user having made partial repayments during the billing period.
More... (http://www.dr1.com/index.html#7)