The president of the Commercial Banking Association (ABA), Jose Manuel Lopez Valdes, has stated that credit card interest rates are determined by the market, and that there are more than ten issuing companies in the DR with more than seven different rates. Diario Libre reports that this is ABA’s reply to Central Bank Governor Hector Valdez Albizu’s suggestion to have Banco de Reservas establish low interest rates on its credit cards in order to pressurize other financial institutions to make reductions in theirs. Lopez Valdes said that people were free to choose which card they wanted to use in the Dominican financial free market. The ABA agrees that the market should determine the prices of products and services to the economy.