The Commission, in its non-binding report, suggests that the full legislature acquiesce to 12 of the 32 observations of the president.
The Economic Regime Commission recommends to the full legislature, through a non-binding report, acquiesce to 12 of the 32 observations made by the President of the Republic to the Draft Organic Law to Defend the Rights of Clients of the National Financial System and Avoid Undue Charges and Unsolicited Services.
In addition, the Commission, which met virtually on January 21, 2022, recommends ratify the texts of 20 provisions that were objected to.
The project, which is currently being discussed in the Legislature, requires financial institutions to carry out strict controls on the services they provide through electronic banking and other electronic channels and to implement adequate and sufficient safeguards to safeguard user resources.
It is established that they must inform their clients of the security measures in relation to the use of keys and passwords.
Entities could no longer make constant calls or force the hiring of insurance, according to the Law of the Rights of the Clients that was approved in the Assembly
The Parliamentarian Pabel Munoz He asserted that the legislative table has already reflected on the contents of the articles observed by the president and, in turn, recalled that the project was approved unanimously in the plenary session of the National Assembly.
The Assemblywoman Mireya Pazmiño He stressed, through his Twitter account, that “the analysis carried out (on the presidential veto) and that was put to a vote, worked with absolute responsibility so that the only beneficiaries of this project are the users of the financial system, avoiding undue charges. and excessive”.
The legislation It contemplates two chapters: in the first, reforms are made to the Monetary and Financial Code and in the second, changes are incorporated into the Consumer Defense Law and modifications to the Telecommunications Law.
Article 158 of the Financial Code adds 158.1 of the right to claim. Here the client of the financial system will be able to direct their claims and the entity must provide the user with all the facilities for them to be made. The amendments to this article of the Financial Code are among the observations made by President Guillermo Lasso.
In fact, on this article, the Executive pointed out that “certain considerations must be made so that the exercise of such rights is viable. Regarding the right to claim, a concordance with numeral 8 of article 245 of the Organic Monetary and Financial Code must be added, since this has the respective procedure to attend to complaints and claims. This reference is necessary to avoid duplication of processes”.
In addition, the Executive adds a numeral to article 158.5, which establishes At what times are improper charges suspended? The document details that collections may also be suspended “when non-financial service entities do not deliver the authorizations that their clients have granted for the debit for the non-financial services that they have provided.”
Regarding the schedules for the collection of debts, the veto details that in the First Reformatory Provision that modifies, among other articles of the Organic Law of Consumer Protection, article 49 “intends to establish a limited schedule for calls to collect debts. debts”.
The Executive states that “being aware of the inconvenience that collection and portfolio recovery mechanisms can generate, It should be taken into consideration that collection is necessary for portfolio recovery, which, in turn, allows the solvency of the financial system and of depositors’ money”.
In addition, he points out that It is a way to avoid going to the judicial system, which prevents high costs not only for debtors and creditors, but also for the State. In this sense, the veto indicates that “the collection companies contracted by the providers, which carry out collection management through telephone calls, may not do so more than once a day, nor before 07:00 or after 07:00. 10:00 p.m., nor on Sundays or holidays.
The text approved in plenary established the charge from Monday to Friday from 08:00 to 20:00.
The non-binding report, analyzed by the Economic Regime Commission, will be sent to the Presidency of the National Assembly, so that it can be submitted to the plenary for consideration. (I)
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