Honduras: more protection for clients of financial institutions

Customers of financial institutions will have a higher level of protection, as of January 2013, when new rules enter into force, issued by the National Banking and Insurance Commission.

On one hand, the rules expand the rights of service users; on the other, they impose new obligations on financial institutions.

Among other changes, customers should have full and clear access to the terms and conditions of any agreement signed with financial institutions, which in turn will need to publish notices, which inform customers as to their rights, and to establish a unit which provides customer service and receives complaints.

The new rules also provide that in the event of a dispute between the customer and a financial institution, it is the latter who bears the burden of proof.

For more information, please contact Adrian Burgos at [email protected] or 504-3392-2947