Predatory Loan Apps in Chile: Extortion and Usury Risks
Chile’s Financial Regulator Warns Against 12 Loan Apps Using Extortion Tactics The Chilean Financial Market Commission (CMF) has issued a formal warning against 12 mobile loan applications for employing “extortionate techniques” and potentially charging usurious interest rates. According to the regulator, these digital platforms operate outside the legal framework of the Chilean financial system and … Read more