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MYR ASESORES | The Ministry of Economy and Business prepares an Order to increase the transparency and protection of revolving credit customers
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The Ministry of Economy and Business prepares an Order to increase the transparency and protection of revolving credit customers

01 Jan The Ministry of Economy and Business prepares an Order to increase the transparency and protection of revolving credit customers

Posted at 00:00h in Uncategorized by info 0 Comments
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25 de octubre de 2019

The Ministry of Economy and Business has published in a public hearing the proposal to modify the Order 2899/2011 transparency and customer protection of banking services. The objective is to reinforce the protection of users of credits that are characterized by having an indefinite duration or automatic renewal., by the client's possibility of determining the fixed fee to be paid periodically within certain parameters, and that are associated with payment instruments, such as the so-called “revolving cards”, increasing the transparency and information that entities must provide to these users and reducing the possibilities of over-indebtedness.

Source:: Treasury News

      

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