It seeks to modify the law that protects consumers of financial services from usury so that they do not have to pay charges that are considered excessive.
Congressman Carlos Enrique Alva Rojas, not grouped, proposes to modify the fifth complementary provision of law 31143 to protect the financial consumer from unjustified membership charges by the use of Credit cards.
“One of the commission charges that has generated a series of complaints, complaints and discomfort among customers is the charge for credit card memberships. For example, from March 16 to July 24, 2020, the INDECOPI registered more than 20,000 reports against the banking and financial service, the rescheduling of debts and the application of interest are the behaviors most complained about,” the document states.
PL 4351 states that Law 31143, a law that protects consumers of financial services from usury, with regard to the collection of credit card memberships, states that this charge proceeds if the parties so agree, thus leaving open the possibility for companies to “agree” that charge to their customers.
“In this way, the SBS, instead of being blunt and definitively eliminating the collection of memberships by credit card, provides them with a rule that provides a subtle way out for the financial system so that it can continue making unjustified collections of memberships”, specified in the proposal.
The Superintendency of Banking and Insurance (SBS) must adapt the pertinent regulatory provisions according to the provisions of the law, if approved, within a period of 60 business days from its entry into force.
The legislative proposal was presented on March 1, 2023 and must go through the evaluation of the Congressional Commissions, before reaching the Plenary for debate and voting.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
