Alberto Atallah, Superintendent of Banks announced that banks have agreed to unify the system used to charge interest rates for purchases made using credit card financing. He said that the issuing banks agreed to only charge interest on the unpaid balances. Banks had made a practice of charging interest on the total balance of the month, regardless of whether credit card holders had made partial payments on the amount. Likewise, he announced his department would publish every week the interest rates charged per credit card financing by the banks in order to contribute to greater transparency in the market.
