Families increasingly in debt and artisans and shopkeepers at risk of usury. A critical situation at the moment, but still under control. The difficult relationship of Italians with credit is denounced by a study by Cgia which estimates that on December 31, 2022 the average amount of debt per family in Italy had risen to […]
Tag: usury
The cap rate for credit cards will be reduced to 44.64% in June
The usury rate, the maximum that banks can charge for purchases with credit cards or regular credit, falls again for the month of June and amounts to 44.64% effective per year. The cut equates to a 77 basis point decline from May this year, when it was 45.41% year over year. The rate certified by […]
The usury rate drops to 45.41% per year, three 18-month increases
Colombia’s financial superintendence (Superfinanciera), stated that the usury rate that will be in effect in May this year will be 45.41%, a figure that represents a reduction of 168 basis points compared to the previous month, which was 47.09 used to be. % per year. It is the first time that the interest rate has […]
Usury rates rose again to 47.09%
The financial top explains that for the purposes of the usury rule defined in the Penal Code (Article 305)whoever, directly or indirectly, receives or collects in exchange for a loan of money or for the sale of goods or services in an installment, profit or benefit in excess of half the interest may incur this […]
Other banks are studying rate cuts following Bancolombia’s announcement
Bancolombia surprised the market by announcing to lower the interest rate for purchases with its credit cards from Friday. Reduced from 46% to 25% of the effective annual rate for Visa Clásica, Mastercard Clásica, American Express Blue, Mastercard Joven and MasterCard Ideal credit cards for customers with quotas up to $3.9 million. This measure, which […]
Usury interest rates shoot up to 43.26%
This increase that applies for January 2023 has been certified by the Financial supervision of Colombia represents an increase of 180 basis points from the rate in effect in December 41.46% annual cash. The usury rate represents the maximum value of indemnity or default interest an organization can charge to the agents of the economy […]
These are the additional measures associated with the increase in the minimum
With the 16% increase, the minimum wage goes from $1,000,000 to $1,000,000 $1,160,000, excluding the transport subsidy, the increase of which will be 20% with what remains in it $140,606. Thus, the total reward will be of the minimum $1,300,000. The Minister of Labour Gloria Ines Ramirezindicated that this is a historic agreement because it […]
Keys to manage credits in high season
The credit It is one of the tools that helps most people achieve their life goals, such as paying in installments for the purchase of everyday goods, from appliances to housing, car, travel, costs of long-term projects, the education or own property. However, interest rates with which the different types of credit have come go […]