NewsWhore
03-16-2011, 04:10 PM
The Chamber of Deputies declared the legislation urgent and approved the bill to create a Law for the Development of the Mortgage and Trust Market in the Dominican Republic after two readings, with some modifications. The legislative proposal was approved by a two-thirds vote of the deputies present, and it will have to go back to the Senate for a new approval. The legislation submitted by the Executive Branch has the support of the Dominican Republic Commercial Banks Association (ABA), the Dominican Savings and Loan Associations League and the Association of Credit and Loan Banks (Abancord), as well as the administration's economic cabinet.
Diario Libre says that the modification that was made by a special commission chaired by Lupe Nunez centers on articles 59 and 60, which establish a single window (for processing the paperwork) and in the Senate version this would be handled by the Ministry of Public Works. This was disputed by the Federation of Municipalities that said that these fall within the remit of the city governments. The other changes are of form rather than substance.
More... (http://www.dr1.com/index.html#2)
Diario Libre says that the modification that was made by a special commission chaired by Lupe Nunez centers on articles 59 and 60, which establish a single window (for processing the paperwork) and in the Senate version this would be handled by the Ministry of Public Works. This was disputed by the Federation of Municipalities that said that these fall within the remit of the city governments. The other changes are of form rather than substance.
More... (http://www.dr1.com/index.html#2)