Without reaching a consensus with the financial sector, the deputies said that the bill will set the maximum interest rate that can be charged on credit cards at 54%.
The agreement reached by the Honduran Association of Banking Institutions and the committee of deputies working on the bill was rejected by President Hernandez, and since then, the negotiation process has stalled.
With a total of 600,000 card holders, credit cards are one of the financial products that has experienced the most growth.
Heraldo.hn reports: "Maria Lidya Solano, executive director of the Honduran Association of Banking Institution (Ahiba), revealed yesterday that the balance of the personal banking portfolio - credit cards - totaled $1.1 billion (21.2 billion lempiras) on August 31, 2008.
The Honduras Association of Banking Institutions will try to decrease the risks and delays in the use of credit cards with a financial education campaign at the national level.
The program to be implemented includes several bases (education, public relations and advertising) that will be used to facilitate a culture of responsibility and to create awareness about the possible impact of the global financial crisis.