In the Honduran Congress there is a bill that seeks to prohibit banks and finance companies from capitalizing interest on payments not made from March 2020 to December 2021, a measure that worries the sector.
The initiative was sent by the Executive to the National Congress months ago. The purpose of the bill, which is called "Financial Plan of Solidarity Rescue", is to benefit people and companies that were affected by the spread of covid-19, with the payment of their debts.
Limiting the fees charged in Costa Rica and establishing a law that defines market limits in Guatemala are part of the attempts being made in the region to regulate the use of credit cards.
A law proposal presented last January before the Legislative Assembly of Costa Rica, aims to regulate the percentage of the commission paid by businesses for credit or debit cards.
The new law approved by Congress states that the interest rate in national currency can not exceed 54%, and in dollars the maximum limit will be 30%.
After several months of debate, the National Congress has finally approved an amendment to the law proposed by the Executive Branch, which aims to limit the interest charges made by banks and financiers on debt incurred using credit cards.
In May, approval could be given to the regulation of the law that obliges real estate agents, pawn shops and lawyers, among others, to report suspicious operations of more than $10,000.
The socialization process of the regulation of the Law for the regulation of designated non-financial professional activities (APNFD) has already ended, and Congress estimates that next month it could be approved.
A bill put forward by the executive branch aims to regulate interest rates charged by banks on credit cards and eliminate service charges, among other changes.
From a statement issued by the President of Honduras:
Tegucigalpa, February 9.President of the Republic, Juan Orlando Hernández, today sent to Congress a bill aimed at introducing new regulations to the credit card market to avoid abuses against consumers.
The proposal includes changing the conditions needed to order the forced liquidation of an institution, facilitating the fight against financial activities related to criminal activities.
The purpose of the reform prepared by the Executive Branch is to tighten controls to prevent money laundering and terrorist financing, in order to identify any suspicious situations and avoid the forced liquidation of the entity, as was done in 2015 for Banco Continental.
The new law regulates the operation of the transfer of funds through the banking and securities settlement system.
From a statement from the National Congress of Honduras:
The National Congress has passed the Payment System and Settlement act, which allow transactions to be made more smoothly and also for economic activity to take place more quickly
Although two articles are still pending, the Special Law Against Money Laundering Crimes approved by congress establishes harsher penalties for money laundering.
From a statement issued by the National Congress of Honduras:
The National Congress in session on Thursday, after a third and final debate of Article 74 to 92 of the draft Special Law Against Money Laundering Crimes, now has only two articles pending for Honduras have a new law for the fight against public corruption and establishes harsher penalties for those found guilty of forms of money laundering and is linked with other legislation aimed at implementing anticorruption sanction methods.