El Salvador bank to return money from unjust service chargesEl Salvador's Defender of Consumers announced that banks and credit card issuers that have been charging unfair rates have promised to correct their irregularities.Thursday, July 3, 2008 Evelyn Jacir de Lovo, who was commissioned by the Defender of Consumers, said, "The reply we received was very positive. We are pleased to say that their position has been to tell us that, beyond the legal battle, they want to respond to the people if they have committed an error and make reimbursements if necessary." Source: elsalvador.com ¿Busca soluciones de inteligencia comercial para su empresa?Bank Credits: Collection of Penalties ProhibitedMarch 2020 In El Salvador, banks will not be able to charge any kind of penalty to clients who, due to the crisis of the covid-19, fail to pay their credit quotas. Government of Costa Rica Takes Out Loans It Doesn't UseOctober 2013 Interest and fees are paid for $781 million in outstanding loans, of which only $41 million have been used, 5% of the total. Projects to Regulate Credit Cards in Costa RicaJuly 2013 A bill seeks to regulate the information provided by issuers to consumers, and another one sets caps on interest rates. Credit Card Interest Rate RegulationFebruary 2012 Proposals are being put forward in the Legislative Assembly of El Salvador to limit interest rates on credit cards via a usury law.
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