Colombia’s Usury Rate Drops for June, but Interest Rate War Rages On for Credit Cards
Financial institutions have a new interest ceiling. The Financial Superintendency of Colombia (SFC) announced that for June the usury rate, that is, the ceiling on the rates that banks can charge for credit cards will be 44.64% effective per year. This data represents a decrease of 77 basis points compared to last May. Arnoldo Casas, … Read more