Row with banks a sticky wicket for Consumer rights chief
DominicanToday.com - The fact that the head of the beleaguered National Consumer Protection Institute (Pro Consumidor) is the wife of the Administrator of the State-owned bank Reservas, country’s biggest, adds a twist in the row with the country’s major commercial banks, which on Monday rejected her deadline for them to register credit card contracts.

Pro Consumidor director Altagracia Paulino, wife of Banreservas administrator Daniel Toribio, has waged a months-long campaign to force disclosure of the contracts by the Dominican banks grouped in ABA, which affirms have complied with their registries, as the Monetary and Financial Law stipulates. The banks caution that taking the issue to court is a last resource, “because other institutional routes established for the topic at hand must first be exhausted.”

In a statement the ABA and the S&Ls grouped in LIDAAPI and ABANCORD) warn they’ll not hesitate in using the judicial route to defend the institutional framework under which they operate.

The banks’ reaction was spurred by Pro Consumidor’s serving notice on all companies which haven’t register their contracts in that organization within the established deadline.

 

Read also: Credit card interest charges up to 96% in Dominican Republic !!

WARNING: Monitor your credit cards for fraud after visiting the Dominican Republic

Go back | Date: 15 Feb 2011
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