Actualidad Peru

Transparency of information

Resolution 1801/2014

This latest amendment to the regulations on transparency of information and contracts with financial system users is intended to oblige financial institutions to justify the level of fees and bank charges agreed with customers.

Thus, fees must be based on proven and effective provision of an additional service supplementing the core service to which the customer has signed up. It is noteworthy that, as a result of this Regulation, financial entities in Peru can no longer charge fees for the provision of services deemed to be "inherent" to the financial product or service taken out. For example, these entities may not charge for creditworthiness assessments, as these are an inherent part of financial intermediation.