The Chile Financial Market Commission (CMF) Board sanctioned four financial institutions with total fines of UF 731.77 for granting loans to applicants listed in the National Registry of Alimony Payment Debtors (RNDPA) and imposed an additional fine on another lender for failing to provide supporting information to verify compliance with the Maximum Conventional Rate. The CMF found the four institutions did not comply with obligations under Law No. 14,908 to consult the RNDPA when granting loans and to withhold and pay the relevant amounts, including withholding up to 50 percent of the loan proceeds when an applicant is listed as an alimony debtor. Fines were imposed on BICE Vida Compañía de Seguros S.A. (UF 34.57), Autofin S.A. (UF 386.26), Cooperativa de Ahorro y Crédito El Detallista Ltda. (UF 58.38) and Santander Consumer Finance Ltda. (UF 252.26). Separately, Servicio e Inversiones TCD Ltda. was fined UF 80 for not submitting timely supporting information for 64 loan operations conducted in 2022 and 2023 to allow supervision of Maximum Conventional Rate compliance.
Chile Financial Market Commission 2025-02-11
Chile Financial Market Commission fines four institutions UF 731.77 for breaching alimony debtor registry checks and sanctions another for missing maximum rate documentation
The Chile Financial Market Commission sanctioned four financial institutions with fines totaling UF 731.77 for failing to consult the National Registry of Alimony Payment Debtors when granting loans, as required by Law No. 14,908. Additionally, Servicio e Inversiones TCD Ltda. was fined UF 80 for not providing timely supporting information to verify compliance with the Maximum Conventional Rate for 64 loan operations.