According to the nature of the agreement, the institutions will reinforce actions to guarantee prompt attention and response to queries and petitions, as well as timely and efficient solutions to claims filed by financial consumers before both institutions due to inconveniences with supervised financial entities.

The agreement was signed by the Superintendent of the Financial System, Mario Menéndez and the President of the Defensoría del Consumidor, Ricardo Salazar.

In addition, the agreement establishes that the Defensoría del Consumidor and the Superintendencia del Sistema Financiero will articulate plans and actions to provide free advice and training to users, thus expanding knowledge, information, financial education and the exercise of citizenship in the defense of their rights.

The agreement will facilitate feedback on complaints received from users of financial products and services, which are handled by the Defensoría del Consumidor and transferred to the Superintendencia del Sistema Financiero, thus better focusing the supervisory work carried out.

In addition to favoring the exchange of information between both institutions, the management of the Defensoría del Consumidor will be facilitated through the technological platform of the Superintendencia del Sistema Financiero, to review the forms of contracts for financial products and services of the supervised entities, and to protect the rights and interests of the users.

The president of the DC, Ricardo Salazar, said that the agreement is an important step in the consolidation of the public function that effectively protects consumers of financial products and services, through a new institutional framework that coordinates and articulates efficiently in the search for the welfare of salvadorans.