On April 18, 2024, the Plenary of Congress, in its first vote, approved the opinion of Bills N° 03428-2022-CR and N° 03739/2022-CR ("Opinion"), which proposes to amend Law N° 31143, Law that protects consumers of financial services from usury, in the following aspects:
- In savings and checking account contracts, no commission is charged for bank transfers to or from another bank in the financial system.
- The credit card contract does not charge a commission for credit card payment through a financial entity or third party other than the company with which the product was contracted.
According to the opinion, bank transfers and credit card payments made through a rural savings and credit bank, municipal savings and credit bank, municipal popular credit bank or savings and credit cooperative are excluded from this prohibition. It also indicates that the effects of these modifications cannot be limited or altered by the prior approval of any regulation, requirement or exception.
Finally, the opinion indicates that non-compliance will give rise to the respective sanction as established in the corresponding SBS regulations.
It should be specified that after seven (07) calendar days have elapsed, the Opinion will be subject to a second vote by the Plenary of Congress, where its approval as a law will be determined.
You can access the Opinion here.
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