The President of the Financial Commission, Dania González, expressed that within the reforms they have established the prohibition of membership fees. These, in some cases, represented the charge of between US$50 and up to US$150 per year for the use of the plastic or administration of the account.

Likewise, bank overdrafts have been eliminated; overdrafts are those payments or disbursements made by the bank that exceed the balance of the account or limit of the credit or debit card.

The objective of the modifications is that salvadorans do not pay excessive charges for the use or non-use of credit and debit cards.

The deputies of said Commission also eliminated the issuance of pre-approved cards, which are those offered by means of telephone calls, without knowing if that person will really have the capacity of indebtedness, which is not correct.

In addition, the deputies expressed that the Banco Central de Reserva (BCR), after the approval in Plenary Session of the reforms described above, will have a period of 30 days to issue the corresponding new technical regulations.

"From the Financial Commission we are legislating in favor of each and every salvadoran. Today, we issued a favorable opinion to reform the Credit Card System Law to do justice to the people who were charged membership fees every year", said Congresswoman Dania González.

"Today, we are taking a historic step. Soon we will see results in the issue of the Credit Bureaus. Now, we are doing justice for all those people who use credit cards", said Congressman Caleb Navarro.