NewsWhore
11-17-2011, 02:00 PM
Of the 720 examples of standard form contracts submitted by the financial sector at the behest of the Pro-Consumer agency, 100% were found to contain clauses that were excessively unfair and ambiguous. This includes credit card contracts as well as other financial transactions that use what are also called "boiler-plate" contracts.
As reported in El Nuevo Diario, Altagracia Paulino, the director of the National Consumer Rights Protection Institute (Pro-Consumidor), told the Chamber of Deputies Hacienda Commission that there is a need to create legislation that regulates the interest rates that the financial entities collect from their clients. The most common complaints filed with Pro-Consumidor include "incorrect calculation of interest on the unpaid balance, credit card fraud, changes in interest rates without previous announcements, high interest rates, collection for services not given, collection for credit card emission that was not authorized, and failure to comply with the contract."
More... (http://www.dr1.com/index.html#4)
As reported in El Nuevo Diario, Altagracia Paulino, the director of the National Consumer Rights Protection Institute (Pro-Consumidor), told the Chamber of Deputies Hacienda Commission that there is a need to create legislation that regulates the interest rates that the financial entities collect from their clients. The most common complaints filed with Pro-Consumidor include "incorrect calculation of interest on the unpaid balance, credit card fraud, changes in interest rates without previous announcements, high interest rates, collection for services not given, collection for credit card emission that was not authorized, and failure to comply with the contract."
More... (http://www.dr1.com/index.html#4)