Saturday, 21 August 2021 02:01

Financial Commission summoned ABANSA, BCR, DC and SSF for next friday to put an end to financial abuses

Written by Evelyn Alas

The deputy of Nuevas Ideas (NI), and president of the Financial Commission, Dania González, summoned representatives of the Asociación Bancaria Salvadoreña (ABANSA), Superintendencia del Sistema Financiero (SSF), Banco Central de Reserva (BCR), and the Defensoría del Consumidor (DC), for next friday to put an end to financial abuses.

The president of the Financial Commission indicated that the next meeting will be to initiate a package of reforms to the Usury Law and the Consumer Law, in order to regulate the abusive interests that damage the pockets of salvadorans.

Likewise, the congresswoman assured that the objective of the Commission is to put an end to the abuses and financial exclusion that people have suffered for years.

I think it is excellent that we are dealing with this issue of financial interests that affect salvadorans so much. We will make a study because we want to know how these regulatory frameworks are working'', said the deputy of Nuevas Ideas, Bladimir Barahona.

"There are many financial entities and cooperatives that provide credits, but the interests are increasing and to that they add insurance, in total the person gets to pay 30% of interests", Barahona said.

Also, Congressman Caleb Navarro said that, "There are many who cannot even sleep because there are constant charges for them, there are people who have taken their own lives because their US$500 loan took away their house since it reached US$6,000, with the interest on the arrears''.