Regulatory Alerts2023-03-28 | CD-SIBOIF-1369-1-MAR28-2023Norm Amending Article 15 of the Credit Card Operations Regulation
The Board of Directors of the Superintendence of Banks and Other Financial Institutions issued Resolution No. CD-SIBOIF-1369-1-MAR28-2023 to amend Article 15 of the Credit Card Operations Regulation. The amendment establishes a graduated schedule for the minimum payment percentage, ranging from 2.0% to 4.0% depending on the billing cycle period. Financial institutions are required to inform clients of these changes in accordance with existing notification regulations.
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