The Chile Financial Market Commission (CMF) has published for consultation a proposal to amend chapters of the Updated Compilation of Rules for Banks covering customer service channels, aligning the framework with changes introduced by the Fintech Act to Articles 37 and 38 of the General Banking Act. The draft addresses minimum working hours for offices, the mechanisms and channels enabled for customer service, minimum conditions for customer service, and requirements applicable to customer service channels. It does not change on-site service hours, which each bank may extend at its discretion. The proposal also notes that, under the Fintech Act, the 31 December banking holiday will be repealed once the consulted regulation is issued. Comments can be submitted via the CMF website’s Regulations Under Consultation section until May 27, 2025.
Chile Financial Market Commission 2025-05-02
Chile Financial Market Commission launches consultation on updated bank customer service channel rules under the Fintech Act
The Chile Financial Market Commission has released a consultation proposal to amend banking rules, aligning customer service channels with the Fintech Act's updates to the General Banking Act. The draft outlines minimum working hours, service mechanisms, and conditions, while maintaining flexible on-site service hours. The proposal also indicates the repeal of the 31 December banking holiday under the Fintech Act.