Law of Financial Intermediaries modified in El SalvadorStarting in January 2009, credit cooperatives and federation will be able to issue credit cards and checkbooks with the approval of the Financial System Superintendence.Monday, May 21, 2012 ![]() The Legislative Assembly, in full session, approved the observations that the President of the Republic, Elías Antonio Saca, made to the Law of Non-bank Financial Intermediaries. Source: elsalvador.com Banking Sector Against Credit Card Law ReformSeptember 2011 The Salvadoran Banking Association is opposing the adoption of a reform which sets a ceiling on interest rates that can be charged for credit card use. New rules for credit cards in Costa RicaDecember 2008 Congress is studying the "Credit and Debit Card Market Regulation" proposed law. El Salvador bank to return money from unjust service chargesJuly 2008 El Salvador's Defender of Consumers announced that banks and credit card issuers that have been charging unfair rates have promised to correct their irregularities. Regulation on Credit Card Interest RatesOctober 2011 The Financial Committee of the Legislative Assembly in El Salvador has began to study a bill which will apply to "all financing operations related to the procurement of goods and services." |
![]()
|
español

