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Chile: lending & credit regulation

Regulated

Chile lending regulation: CMF oversight of unregulated apps; no specific VASP law

Lead regulator:
Comisión para el Mercado Financiero (CMF)
Key law:
Law No. 18.045 (Financial Market Law)
Last updated:
2026-07-12

The Comisión para el Mercado Financiero (CMF) is the primary regulator for financial activities in Chile, including consumer credit. The CMF actively monitors and enforces against unregulated entities, such as mobile lending applications, for usurious and extortionate practices.

Lending activities generally require authorization under the Financial Market Law. The CMF has demonstrated a strict stance against unregulated digital lenders, filing criminal complaints against apps offering illegal loans.

There is no specific standalone law for digital lending or VASPs mentioned in the provided documents; general financial market regulations apply. The regulatory direction emphasizes consumer protection and criminal enforcement against illegal credit providers.

Who regulates

  • Comisión para el Mercado Financiero (CMF)

    Primary financial market supervisor and enforcer

    [1]

Core laws & rules

  • Law No. 18.045 (1981)

    The core framework for the Chilean financial market, establishing the CMF and licensing requirements for financial intermediaries.

Licensing & registration

  • Financial Intermediary / Credit Institution

    Authorization required to legally offer credit. Unregulated apps are subject to criminal complaint.

    [1]

Restrictions & warnings

  • Unregulated lending apps offering usurious or extortionate loans are targeted for criminal prosecution by the CMF.

    [1]

Direction of travel

  • Regulators are actively enforcing against unregulated digital lending platforms, indicating a strict enforcement environment for non-compliant credit apps.

    [1]

Sources

  1. CMF Alerts and Reports 13 Unregulated Credit Apps for Extortion and Usury · 2026-06-12

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This guide is compiled automatically from 1 primary-source documents published by Chile's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.