Circular RUNOR 1-1886: Protection of Financial Services Users. Update.

"Año de la Reconstrucción de la Nación Argentina" COMMUNICATION “A” 8203 26/02/2025 TO FINANCIAL ENTITIES, TO TRUSTEES OF FINANCIAL TRUSTS INCLUDED IN THE FINANCIAL ENTITIES LAW, TO EXCHANGE OPERATORS, TO NON-FINANCIAL COMPANIES ISSUING CREDIT CARDS, TO NON-FINANCIAL COMPANIES ISSUING PURCHASE CARDS, TO OTHER NON-FINANCIAL CREDIT PROVIDERS, TO PAYMENT SERVICE PROVIDERS THAT OFFER PAYMENT ACCOUNTS, TO PAYMENT SERVICE PROVIDERS THAT PERFORM THE INITIATION FUNCTION:
Ref.: Circular
RUNOR 1-1886:
Protection of Financial Services Users. Update.
___________________________________________________________________________ We address you in order to deliver to you the sheets that, in replacement of those previously provided, must be incorporated into the ordered text on Protection of Financial Services Users, in accordance with what is provided in Communication A 8183. Finally, we remind you that on this Institution's website www.bcra.gob.ar, by accessing “Financial System – LEGAL AND REGULATORY FRAMEWORK – Ordered texts and summaries – Ordered texts of general regulations”, you will find the modifications made with texts highlighted in special characters (strikethrough and bold). We greet you sincerely. CENTRAL BANK OF THE ARGENTINE REPUBLIC Enrique C. Martin Darío C. Stefanelli Manager of Issuance of Regulations Principal Manager of Issuance and Regulatory Applications
ANNEX

Contracts must contain at least:
i) The complete description and specification of the product and/or service. ii) The corporate name, CUIT (Tax Identification Number), and legal address of the obligated party. iii) Identification of the financial services user.
Natural persons: full first and last names, type and number of ID document, CUIT/CUIL/CDI and address. Legal entities: corporate name, CUIT and legal address. iv) The commissions and charges, as well as the terms and conditions and other circumstances under which they were offered, advertised, and agreed upon. In the case of mortgage loans in pesos offered by financial entities for the purchase of housing and that allow applying those funds to the payment of real estate in foreign currency through a securities trading operation with settlement in foreign currency (dollar MEP), their respective commission must be clearly and precisely informed. v) Revocation clause indicating that the financial services user has the right to revoke acceptance of the product or service within a period of ten (10) business days counted from the date of receipt of the contract or the effective availability of the product or service, whichever occurs last, notifying in a reliable manner or through the same medium in which the service or product was contracted. In the case of remote contracting, this period shall be counted from the date on which the user receives the contract with the obligated party's signature. It will be clarified in this same clause that such revocation will be without cost or responsibility for the financial services user to the extent that they have not made use of the respective product or service and that, in the event that they have used it, only the commissions and charges provided for the service will be charged to them, proportional to the time of use of the service or product. The right of revocation must be informed to the user in any document presented to them for the purpose of the offer and/or contracting of the product or service. The provisions in this point do not apply to fund collection operations carried out by financial entities within the framework of the Ordered Text on Time Deposits and Investments. vi) The user's right to effect, at any time during the credit term, total prepayment or partial prepayments with adjustment to what is provided in point 2.3.2.1. B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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vii) The user's right to carry out counter operations, without restrictions on the type of operation –subject to those that may exist for operational reasons– or on the minimum amount, in accordance with what is provided in point 2.3.2.2. viii) The legend: “You can consult the “Transparency Regime” prepared by the BCRA based on the information provided by the obligated parties in order to compare the costs, characteristics and requirements of financial products and services, by going to http://www.bcra.gob.ar/BCRAyVos/Regimen_de_transparencia.asp.”. ix) The right to request the opening of the Savings Account in pesos with the benefits provided in point 1.8. of the Ordered Text on Savings Accounts, Salary Accounts and Special Accounts, which will be free of charge. x) The remaining requirements regulated by regulation according to the product or service in question.
2.3.1.2. Multi-product contracts.
In matters of freedom of choice of financial products or services provided by the obligated parties, multi-product contracts will be admitted to the extent that the sections corresponding to each product can be separated into autonomous individual contracts, so that each user can adhere only to the product(s) that actually interest them. The revocation or termination of a product or service that is part of a multi-product contract may imply, when the obligated party so provides, the loss of benefits and/or the cancellation of the remaining associated products or services, except for savings accounts in pesos –when they are open– since these do not form part of multi-product packages (point 1.4. of the Ordered Text on Savings Accounts, Salary Accounts and Special Accounts). In those cases, when an increase in the total cost of the remaining products or services is generated, this circumstance must be previously informed to the financial services user, indicating the available means to consult the new values –as provided in the matter of advertising in point 2.4.–.
2.3.1.3. Remote contracting of products and services.
Regardless of the modality used (telephone, by mail, by electronic means, promotion through third parties, etc.), the obligated parties must:
− provide or make available to the financial services user a copy of the contract with the authorized signature of the obligated party, within ten (10) business days of the contracting or the effective availability of the product or service, whichever occurs last; − use the usual documentation they employ in face-to-face contracts. B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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Additionally, when contracting is carried out by electronic means, the obligated parties must:
− provide the user with the necessary technical means so that, before contracting, they can detect and correct any errors or omissions in the data entry; − provide the user with a mechanism for explicit confirmation of the decision to contract, so that their silence is not considered as consent; − ensure that the terms of the contracting can be read, downloaded and saved by the user in an unalterable manner.
2.3.1.4. Informational summary of the contract.
Obligated parties must deliver to users before formalization a summary of the contract in which the terms and scope of the main issues governing the contracting are summarized, in plain and colloquial language, with the objective that the user understands what they are contracting, the accounts and operations that are free of charge, the costs and risks for the user associated with the contracting, emphasizing the most significant clauses for the user according to the following basic guidelines:
i) The operations that can be carried out with the product or service in question, as well as the available channels for the completion of the transactions involved. ii) The commissions and charges associated with the product or service and the mechanism to apply changes to the agreed conditions as provided in section iv) of point 2.3.4. iii) The aspects of free of charge associated with the contracted product or service. iv) If applicable, the agreed bonuses, the conditions for their application and their validity period. v) For financing operations of any type: all aspects contemplated in point 3.2. of the Ordered Text on Interest Rates in Credit Operations. vi) In the case of personal, pledge or mortgage loans and other installment loans: the amount of the borrowed capital, the total amount to be paid, the number of installments, periodicity and due date, the capital amortization system and interest cancellation. vii) In the case of credit cards: the purchase limits, purchase in installments, financing and cash advance limits, the method of determination of the minimum payment and the channels enabled to consult the current interest rate. B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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viii) For deposit accounts and credit cards: the periodicity for the generation of the account statement and the deadline for its sending, as well as the mechanism and deadline to complain in case of objecting to any movement or consumption. ix) For financing in general, the causes, the effects of default and the special execution procedures for the case of credit cards and debtor balances of current accounts. x) The faculties, procedures and channels for the processing of the closure of accounts or termination of the contract. xi) The right of revocation as established in section v) of point 2.3.1.1. xii) In the case of multi-products (product packages), the free accounts and operations must be informed and the cost of additional products and services specified, informing on what is provided in point 2.3.1.2., including also the insurance offered by the entities and any type of service. xiii) The channels enabled for making complaints. xiv) Other particular issues that imply an inherent risk for the user.
2.3.2. Commissions and charges.
2.3.2.1. Admitted.
All commissions, charges, costs, expenses, insurance and/or any other concept –excluding the interest rate– that the obligated parties receive or intend to receive from financial services users (commissions and charges), must originate in a real, direct and demonstrable cost and be duly justified from a technical and economic point of view. The application of commissions and/or charges must be limited to the effective provision of a service that has been previously requested, agreed and/or authorized by the user. Commissions correspond to services provided by the obligated parties and, in this sense, may include remuneration in their favor that exceeds the cost of the provision. Charges correspond to services provided by third parties, so they can only be transferred to the cost to users. Likewise, the amount of the charges that the obligated party transfers to users cannot be higher than that which the third-party provider receives from individuals, without intermediaries and under similar conditions (postal services, insurance company, notary and property registries, or other similar nature). B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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In credit operations, obligated parties may apply commissions on the unused amounts of fund allocation agreements, since making them available to users constitutes the provision of the service.
Total or partial prepayment of financing may give rise to the application of commissions. In the case of total prepayment, the application of commissions will not be admitted when at the time of carrying it out at least one quarter of the original term of the financing or 180 calendar days have elapsed since its granting, whichever is greater. Additionally, what is provided in point 1.7. of the Ordered Text on Interest Rates in Credit Operations will apply.
2.3.2.2. Not admitted.
i) General principle.
Charging users for concepts that do not observe the conditions stated in point 2.3.2.1. and/or that derive from the provision of a service whose commission or charge, as appropriate, is already included in other concepts charged by the obligated party is not appropriate. Commissions and/or charges may never be applied to the user for financial services that have not been requested, agreed and/or authorized by them and, even if they have been requested, agreed and/or authorized by them and informed by the obligated party to the user, they have not been effectively provided. ii) Particular cases. Commissions or charges cannot be applied for the following concepts:
a) Operations carried out at the counter by financial services users who are natural persons.
This limitation also applies, in operational offices other than the one in which the account is open, to movements of funds in pesos (deposits and/or withdrawals) and to the receipt of check deposits made for their own account and/or for third parties. This is regardless of the commissions and/or charges that may correspond for the management of collection of said documents and for the services that, due to their characteristics, can only be provided at the counter (certification of checks, international transfers, etc.). b) Deposits of pesos in cash in accounts whose holders are natural or legal persons that have the status of micro, small or medium-sized enterprises (MSME), in accordance with the conditions provided in the Ordered Text on Determination of the Status of Micro, Small or Medium Enterprise. c) Contracting and/or administration of insurance (taking into account what is provided in point 2.3.12.). B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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d) Generation of account statements and sending of virtual account statements (these services must be included in the account maintenance commission). e) Evaluation, granting and/or administration of financing. f) Valuation, notarial or notary expenses that arise on the occasion of the granting or cancellation of financing –such as those for the constitution of pledge or mortgage–.
2.3.3. Exposure of interest rates and total financial cost (TFC) in documents.
For financing operations, what is provided in point 3.2. of the Ordered Text on Interest Rates in Credit Operations must apply.
The failure to include the interest rate and/or the total financial cost in the documents will determine that the obligated party may apply to the user, as a maximum TFC, the average rate resulting from the survey of interest rates on time deposits of 30 to 59 days –in pesos or US dollars, depending on the currency of the operation– reported by the BCRA on the date of celebration of the contract –or, if it were not available, the last reported one– based on the information provided by all public and private banks. For the calculation of the total financial cost, the interest rate, commissions and charges in effect at the time of contracting will be taken into account, expressly indicating if these concepts may be modified in accordance with the parameters and criteria pre-established in the contract.
2.3.4. Changes to agreed conditions.
In order to modify the agreed conditions, all of the following conditions must be met:
i) The contract must taxatively specify the conditions that can be subject to modification, as well as the parameters or objective criteria for their implementation, adhering to what is stated in point 2.3.2.
Increases in interest rates, commissions and/or charges must also be justified from a technical and economic point of view, within the framework of what is provided in point 2.3.2.1. ii) The modification must not alter the object of the contract nor imply a detriment with respect to the contracted products or services. iii) Consent. In the event that the obligated party intends to incorporate new concepts as commissions and/or charges that were not provided for in the contract or reduce benefits contemplated in it, they must previously obtain the express consent of the financial services user. B.C.R.A. PROTECTION OF FINANCIAL SERVICES USERS
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When it comes to modifications in the values of commissions and/or charges duly accepted by the user, their consent to the change may be constituted by the lack of objection to it within the period established in section iv).
In credit card contracts, consent to modifications in the agreed conditions (new commissions and/or charges) can only be given by the account holder. iv) Notifications. Form, deadlines and effects.
The financial services user must be notified of the modifications that the obligated party will apply with a minimum advance of sixty (60) calendar days before their entry into force. Modifications that are economically more beneficial for the user –due to a reduction in agreed values– do not require prior notification. Notifications regarding changes to agreed conditions (new concepts and/or values or reduction of service benefits) will in all cases be free of charge for the financial services user. They must be carried out by written document addressed to the real address of the financial services user –separately from any other information sent by the obligated party (account statements, informational bulletins, etc.), even if it is part of the same shipment– or by electronic means in those cases where this was the form of communication. In the latter case, the notification must be clear, easily accessible to the user and include the date of issuance. The following legends must be included in the body of these notifications:

• “You may choose to terminate the contract at any time before the change takes effect and without any charge, provided that you must fulfill the obligations pending on your part.”

• “You can consult the “Transparency Regime” prepared by the BCRA based on the information provided by the obligated parties in order to compare the costs, characteristics and requirements of financial products and services, by going to
  http://www.bcra.gob.ar/BCRAyVos/Regimen_de_transparencia.asp”.
  Likewise, when the value of the commissions detailed below is modified, the body of the notifications must display a comparative table for those amounts which will be prepared and made available in due course by the Superintendence of Financial and Exchange Entities (SEFYC) on the site http://www.bcra.gob.ar/BCRAyVos/Primeras_10_entidades.asp:

• Savings account: issuance of additional debit cards; replacement of debit cards due to theft or loss and use of ATMs (outside the entity's operational offices, of another entity and abroad).

• Credit cards: service of issuance, renewal, administration or account maintenance; replacement or reprint of card due to theft or loss and additional cards.
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• Specific to the current account: account maintenance and checkbook.

• Package intended for beneficiaries of social security benefits that include the service of advance of pension benefits.

• Package maintenance service.
  2.3.5. Reimbursement of amounts.
  2.3.5.1. Any amount charged or owed in any form to the financial services user for the following concepts:
  i) interest rates, commissions and/or charges without compliance with what is provided in points 2.3.2. to 2.3.4.; ii) charges in excess of the costs of services that third parties charged the obligated parties in relation to services provided to users and/or the prices that the third-party provider receives from individuals in general; iii) commissions in excess of the maximums fixed by the BCRA that are applicable; iv) in breach of the level of the maximum interest rate applicable to financing linked to credit cards provided in the ordered text on Interest Rates in Credit Operations; v) in excess of what was duly agreed between the user and the obligated party; vi) others generated improperly by their nature, such as compensatory interest on debtor balances generated in deposit accounts other than the bank current account; vii) as well as amounts owed to the user for having incorrectly liquidated promotions, discounts or other type of benefits –that is, that do not adjust to the terms, conditions and/or modalities that had been offered, advertised or agreed upon–; must be reimbursed within:

• the ten (10) business days following the moment of the presentation of the complaint to the obligated party, in accordance with the provisions of point 3.1.6.; or

• the five (5) business days following the moment such circumstance is ascertained by the obligated party or by the supervision carried out by the SEFYC.
  This, without prejudice to the sanctions that may correspond.
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In such situations, the amount of reasonable expenses incurred to obtain the refund shall be recognized, and in all cases, the applicable compensatory interest, calculated from the date of the undue charge until its effective return. To this effect, the obligated party must apply 1.5 times the average rate corresponding to the period between the moment the aforementioned difference became due – the date on which the amounts subject to the claim were collected – and its effective cancellation, calculated from the daily survey of interest rates for fixed-term deposits of 30 to 59 days – in pesos or US dollars, depending on the currency of the operation – reported by the BCRA based on information provided by all public and private banks. When the rate corresponding to such survey is not available, the last reported rate shall be taken.

When the user has a checking account open in their name at the obligated financial entity, this amount shall be credited to said account automatically without the need for an express request. If this is not possible or if it is not a financial entity, the refund amount shall be credited to a credit card in their name or deducted from the current balance of the financing that generated it.

The crediting of the refund or, where applicable, its availability shall be notified via electronic means – automated teller machines, Internet banking (home banking), etc. – and/or telephone services – such as text and/or voice messages – and:
a) a written document sent to their home address – separate from any other information sent to them (account statements, informational bulletins, etc.), even if it is part of the same mailing; or b) to their email address – in those cases where they have expressly accepted this form of notification.

These provisions shall apply for the purpose of complying with homologated out-of-court agreements, agreements homologated through collective actions (Article 54 of Law 24.240) or judicial rulings, insofar as they do not oppose what is provided in those agreements or what is established by the public powers of the various jurisdictions.

Additionally, the obligated party must verify if this type of situation generating the obligation to refund has occurred with respect to users who are in the same situation and, if applicable, proceed with their refund according to the procedure provided for in this section, notifying the Responsible for Financial Services User Attention of such circumstances and results.

2.3.6. Restrictions on the use of contracted products and/or services.
Financial entities, non-financial companies issuing credit and/or purchase cards, and other non-financial credit providers that, as a result of applying security measures, prevent the use of products and/or services contracted by a financial services user – for example, by blocking debit, credit and/or purchase cards and/or disabling access to Internet banking (home banking) services – must:

2.3.6.1. inform the user of the situation using one of the available electronic communication means – such as email or telephone – on the same day of its effective application, indicating the reasons for the measure, as well as the available channels to process the rehabilitation of the product/service;

2.3.6.2. enable the rehabilitation of the products/services through:
− one of the electronic communication means used by the obligated party to communicate with its clients; and − in person – at any branch.

2.3.7. New copies of documentation.
The financial services user may request – at their own expense and at any time during the consumer relationship – from the obligated party new copies of the active contract/s binding them.

2.3.8. Interpretation.
The interpretation of the contract shall be made in the sense most favorable to the financial services user. When there are doubts about the scope of their obligation, the one that is less burdensome shall prevail.

2.3.9. Abusive clauses.
In contracts entered into between the financial services user and the obligated parties, the following clauses shall be deemed unwritten:

2.3.9.1. Those that distort the obligations of the obligated party.

2.3.9.2. Those that imply a waiver or restriction of the financial services user's rights, or expand the rights of the obligated party.

2.3.9.3. Those whose content, wording, or presentation do not reasonably warrant their inclusion due to lack of connection with the nature of the contract.

2.3.9.4. Those that impose burdensome obstacles to the effective exercise of the financial services user's rights.

2.3.9.5. Those that place the financial services user in a disadvantaged or unequal situation with respect to the obligated party.

2.3.9.6. Those that transfer the responsibility of the obligated party to third parties.

2.3.9.7. Those that establish the inversion of the burden of proof to the detriment of the financial services user.

2.3.9.8. Those that allow the obligated party, directly or indirectly, to unilaterally alter the amount of rates, commissions, and/or charges, departing from the mechanism provided for in all applicable regulations for the modification of contractual clauses.

2.3.10. Inalienability.
The rights and/or powers recognized to the user by these rules cannot in any case be waived or renounced.

2.3.11. Designations.
The designation of products or services in applications, contracts, Internet banking (home banking) systems, and account statements must comply with the provisions of BCRA regulations (peso savings account, dollar savings account, bank checking account, salary/social security account, etc.), without prejudice to the possibility of additionally referring to the commercial package they may eventually constitute.

2.3.12. Insurance as ancillary contracting to a financial service.
This includes those insurance policies contracted to reduce risks associated with financings granted by the obligated party.

2.3.12.1. Life insurance on outstanding balance.
Obligated parties may not collect any type of commission and/or charge from users related to these insurance policies.

Such parties must contract an outstanding balance insurance policy covering death and total permanent disability with respect to financings granted to natural persons.

Alternatively, they may self-insure the risks derived from the death and total permanent disability of users.

In both cases, the coverage must completely extinguish the outstanding amount in the event of the debtor's death or total permanent disability.

2.3.12.2. Other insurance.
Obligated parties must offer financial services users at least three insurance companies not affiliated with each other, from which they must be able to choose, and keep a record of the exercise of this right by said users.

For comparison purposes, the obligated party must inform the user of the minimum coverage that the insurance in question must provide. In the event that the user obtains a cheaper insurance policy from any of the three insurers offered by the obligated party than those offered through the latter, the one offered directly by the insurer to the user must be contracted.

The charge applied by the obligated party to the user may not exceed the amount charged by the chosen insurance company for operations with individuals and without the intervention of the obligated party, contracted at the place of contracting or the user's domicile.

In no case may obligated parties register remuneration or profits from the insurance policies that their users contract as ancillary to a financial service – regardless of whether it is a user's request or a condition established by the obligated party to access the financial service – so these concepts may not integrate the charges transferred to them nor be collected directly or indirectly from the insurance company.

2.3.13. Insurance as non-ancillary contracting to a financial service.
Obligated parties may not collect from users any type of remuneration – commission and/or charge – additional to the premium determined by the insurer, related to the activity of intermediation of general insurance contracts provided for in point 3.1.2 of the TO on Complementary Services of the Financial Activity and Permitted Activities.

The premium received by the obligated party from the user may not exceed the amount charged by the chosen insurance company for operations with individuals and without the intervention of the obligated party.

2.3.14. Information to the user.
Upon sending account statements, the obligated party must include – as applicable – the following legends in a visible place with prominent letter size:

• “You may request the ‘Peso Savings Account’ with the benefits provided for in point 1.8 of the TO on Savings, Salary and Special Accounts, which will be free.” (Financial entities)

• “You may consult the ‘Transparency Regime’ prepared by the Central Bank based on information provided by obligated parties to compare the costs and characteristics of financial products and services by entering http://www.bcra.gob.ar/BCRAyVos/Regimen_de_transparencia.asp.”

• “Dollar purchases on your credit cards may be settled in that foreign currency or in pesos, with the maximum applicable exchange rate in this case being the selling exchange rate (applicable for operations carried out at the counter or through electronic means, as applicable) at the time of settlement – or the immediate preceding business day when payment is made on a non-business day. If you have agreed to automatic debit of the card statement, the selling exchange rate for operations carried out through electronic payment means at the close of the same business day of payment will apply.” (Financial entities issuing credit and/or purchase cards)

• “Dollar purchases on your credit cards may be settled in that foreign currency or in pesos, with the applicable exchange rate in this case being the selling exchange rate by electronic channels published by the Banco de la Nación Argentina on the same business day of the payment date, or the immediately preceding business day when payment is made on a non-business day.” (Non-financial companies issuing credit and/or purchase cards)

2.4. Advertising of information.
Financial entities, non-financial companies issuing credit cards, and other non-financial credit providers must comply with the following conditions regarding access to information by financial services users who hold the status of final consumers or micro, small, and medium-sized enterprises (MSMEs), in the latter case in accordance with the TO on Determination of Micro, Small, and Medium Enterprise Status.

2.4.1. All operational offices of these obligated parties must deliver to the aforementioned financial services users who request it a detailed list of the characteristics of the products and services they offer, specifying especially all commissions and charges associated with them.

In the case of peso mortgage loans offered by financial entities for the purchase of housing and that allow applying those funds to the payment of real estate in foreign currency through a securities trading operation with settlement in foreign currency (dollar MEP), their respective commission must be clearly and precisely informed.

2.4.2. Displayed under the name “Adhesion Contracts – Consumer Defense Law 24.240”, they must publish on their institutional Internet site the model contracts of adhesion for all products and/or services offered – discriminating by each modality, plan, product and/or service – as well as all other general and/or particular adhesion conditions established through which rights and obligations are made effective with their users, and promotions and bonuses – with precise indication of start and end dates, as well as their modalities, conditions, and limitations.

Access to the cited information must be easy and direct from the home page of their institutional Internet site through a single hyperlink and occupy a prominent place, in terms of visibility and size, on that page.

2.4.3. In all cases, a complete copy of the instruments signed by financial services users at the time of requesting financial products or services must be delivered, and the consultation and download of the signed contract and any special offers or promotions that have been offered, agreed upon, and are active for the user must be enabled through the Internet banking service – home banking – or, failing that, through their Internet site – subject to compliance with procedures for user access and authentication.

In all advertising of their products and/or services – regardless of the medium used and even when directed at natural persons who do not hold the status of financial services users – obligated parties must avoid practices or actions that reflect or promote stereotyped and hierarchical views of genders, androcentrism, sexist language, media and/or symbolic violence against women and LGBTTIQ+ persons. Among others, they must avoid male condescension – known as mansplaining – using the image of women as mere objects disconnected from the product being promoted or associated with stereotyped behaviors, or reproducing homophobic, lesbophobic, and transfophobic messages.

2.5. Information to the Central Bank of the Argentine Republic.
Financial entities, PSPCPs, non-financial companies issuing credit and/or purchase cards, and other non-financial credit providers that offer and market products and/or services that are perfected with the signing or acceptance of contracts with pre-established clauses (adhesion contracts), must inform the commissions and charges they collect from financial services users through the information regime established for this purpose.

New listings – commissions for new products and/or services they wish to market – and increases in commissions they wish to implement must be previously informed to the BCRA through the channel indicated in the preceding paragraph and then notified to financial services users. They must also inform modifications to charges.

Reductions in commissions and/or charges may be applied without delay, provided that they must be informed to the BCRA within thirty (30) calendar days following their application.

2.6. Dignified treatment.
The policies, practices, and procedures of obligated parties must not represent discriminatory treatment of users.

Obligated parties must adopt the necessary precautions to particularly prevent discriminatory acts or omissions determined by reasons such as race, religion, nationality, ideology, political or union opinion, age, sex, economic position, social condition, or physical characteristics.

In particular, the rejection of financing requests shall not correspond solely on the basis of the applicant's age, when their projected income level is sufficient and it is possible to obtain coverage for their mortality risk through the contracting of life insurance on outstanding balance. This, however, shall be the decision of the obligated party to contract or not such insurance.

Likewise, in the treatment they dispense to all natural persons – even when they do not hold the status of financial services users – they must avoid the practices or actions detailed in point 2.4.

2.7. Revocation of acceptance and rescission of contractual relationships.
Obligated parties must have separate hyperlinks that allow the user to:

2.7.1. Revoke acceptance of the contracted product or service (regret button), in accordance with what is provided for in subsection v) of point 2.3.1.1.

2.7.2. Rescind contractual relationships (cancellation button), in accordance with what is provided for in point 3.2.1 of the TO on Electronic Communication for Environmental Care.

In both cases, they must be identified with the legend “regret button” or “cancellation button”, as applicable, and be located in a prominent place – in terms of visibility and size – of the first access to their Internet banking service – home banking – or similar mechanism, so that the user can proceed in the same act to the effective revocation or rescission of the product or service, as applicable.

ORDERED TEXT ORIGIN OF THE NORM OBSERVATIONS Section Point Paragraph Com. Point Paragraph 1.
1.1. “A” 5388
1.1.1. “A” 5388 S/Com. “A” 5482.
1.1.2. “A” 5388
1.1.2.1. “A” 2467 2° S/Com. “A” 4378 and 5388.
1.1.2.2. “A” 5388 S/Com. “A” 6443.
1.1.2.3. “A” 4378 S/Com. “A” 5388.
1.1.2.4. “A” 5388 S/Com. “A” 7146.
1.1.2.5. “A” 7146 6.
1.1.2.6. “A” 7593 1.
1.1.2.7. “A” 7593 1.
1.2. 1° “A” 90 Unique S/Com. “A” 4378, 5388 and 6279.
2° “A” 2900 1. 2° S/Com. “A” 5388, 6279 and 6462.
1.3. “A” 7593 2.
2.
2.1. “A” 5388 S/Com. “A” 5460 and 7199.
2.2. “A” 5388 S/Com. “A” 5460.
2.2.1. “A” 5388 S/Com. “A” 5460.
2.2.2. “A” 5388 S/Com. “A” 5460, 6664, 7517 and 7744. Includes normative interpretation.
2.2.3. “A” 7517 1.IV) S/Com. “A” 7744.
2.2.4.1. “A” 5388 S/Com. “A” 5460.
2.2.4.2. “A” 5388 S/Com. “A” 5460.
2.2.4.3. “A” 7517 1. III) S/Com. “A” 7744.
2.2.4. last “A” 5388 S/Com. “A” 5460.
2.3. “A” 5388 S/Com. “A” 5460.
2.3.1. “A” 5460 S/Com. “A” 5928, 6068, 6123, 6145, 6188,
6448, 7199, 8183, “B” 11353 and 12135.
2.3.2. “A” 5460 S/Com. “A” 5795, 5823, 5928, 5990 and
6681.
2.3.3. “A” 5460
2.3.4. “A” 5460 S/Com. “A” 5928, 6279, 7199 and “B” 11353.
2.3.5. “A” 5460 S/Com. “A” 5849, 5853, 6279, 6419 and
6664.
2.3.6. “A” 6664 1. S/Com. “A” 7146.
2.3.7. “A” 5460
2.3.8. “A” 5460
2.3.9. “A” 5460
2.3.10. “A” 5460
2.3.11. “A” 5460
2.3.12. “A” 5460 S/Com. “A” 5795, 5828 and 5928.
2.3.13. “A” 5928 S/Com. “A” 6123.
2.3.14. “A” 5928 2. Includes interpretative clarification. S/Com.
“B” 11353 and “A” 6664.
2.4. 1° “A” 5388 S/Com. “A” 5460, 7146, 7162, 7199 and
8183.
2.5. “A” 5388 S/Com. “A” 5460, 5498, 5591, 5685, 5928,
6279, 7146, 7744 and 7969.
2.6. “A” 5460 S/Com. “A” 6664 and 7162.
2.7. “A” 7199
3. 1° “A” 5388 S/Com. “A” 5460 and 6418.
BCRA. ORIGIN OF THE PROVISIONS CONTAINED IN THE ORDERED TEXT ON PROTECTION OF FINANCIAL SERVICES USERS