COLOMBIA Trends and Developments Contributed by: Maria Carolina Pardo and Carlos Ignacio Arboleda, Baker McKenzie
fintech operations are considered as interest when charged to consumers. Thus, any credit or financing product offered through fintech apps must consider technology fees when setting interest rates in order to not exceed the maximum legally permitted interest. These modifications will likely be further expand - ed and interpreted by the SIC as consumers start bringing claims under the provisions of the new law.
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