NewsWhore
09-13-2012, 02:40 PM
The Monetary Board issued a proposal for regulating credit cards yesterday, Wednesday 12 September. It establishes that card issuers need to calculate and charge interest rates only on the pending balance. It also establishes that card issuers can only charge interest on services that have been agreed upon and delivered, and can only charge for operations that were previously notified and agreed with the cardholders. These are for issuing the card, renewal, insurance for loss or theft, replacement of the card or for deteriorated plastic.
As reported in Listin Diario, the proposed rule would establish that when the company offers other services it would need to have consulted the cardholder in advance, to ensure they are interested in the service. If the client does not reply this cannot be understood as a tacit acceptance of the service.
www.listin.com.do/la-republica/2012/9/13/247106/Emiten-reglamento-para-tarjetas-de-credito (http://www.listin.com.do/la-republica/2012/9/13/247106/Emiten-reglamento-para-tarjetas-de-credito)
More... (http://www.dr1.com/index.html#6)
As reported in Listin Diario, the proposed rule would establish that when the company offers other services it would need to have consulted the cardholder in advance, to ensure they are interested in the service. If the client does not reply this cannot be understood as a tacit acceptance of the service.
www.listin.com.do/la-republica/2012/9/13/247106/Emiten-reglamento-para-tarjetas-de-credito (http://www.listin.com.do/la-republica/2012/9/13/247106/Emiten-reglamento-para-tarjetas-de-credito)
More... (http://www.dr1.com/index.html#6)