The La Pampa’s Consumer Protection Agency emphasized that, unlike the 2024 inspection, when it was determined that there were only two registered companies out of 18 operating companies (12%), “this represents a very significant increase, even more so considering the total number of entities surveyed.”
Pascual Fernández, Minister of Government and Municipal Affairs, told the Provincial News Agency that these annual inspections “are a measure we have been maintaining over time to defend those who must take out financial loans. Many Pampas residents are forced, in the current economic situation, to turn to a non-bank institution, and it is necessary for them to be protected with clear information and avoid any abuse.”
“It is State’s role to guarantee the rights of La Pampa’s residents as consumers, and the La Pampa’s government must be there. These controls have been effective because they have improved in every way: there are more registered entities and more transparent information is being provided,” Fernández stated.
Details #
The institutions visited were eight in General Pico, seven in Santa Rosa, four in Realicó, and one in Intendente Alvear. Meanwhile, four were found to have ceased operations. Consumer Protection agents are monitoring compliance with the Law 3050 regarding registration in the Provincial Registry of Consumer Credit Institutions (it means establishing a domicile in La Pampa); visible identification (via a sign) on the premises showing the Annual Effective Interest Rate, Total Financial Cost, and the amount to be repaid for each $1,000 (pesos) loaned; and maintaining a Loose-Leaf Book (with a copy of the loan agreement and promissory note). The administrative investigation will now begin, during which offenders have the right to a defense before issuing a final ruling on the appropriateness of any sanctioning measure (warning or fine).
On the other hand, it was also highlighted that “the increase in the presence of informative signage regarding loan granting conditions has been very significant. However, given the very detailed nature of the current regulations, it is still evident that this information is not reflected in the signage with the detail required by the regulatory decree.”
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