Banks To Highlight the Total Financial Cost in Agreements

Buenos Aires, March 22nd, 2018 The Board of the BCRA established that all loan documents must highlight the total financial cost (CFT in Spanish) with a font size five times larger than the font size used in the rest of the documentation. Thus, at the time of execution, the customer will easily identify the loan’s CFT, which in addition to the interest rate includes the transaction’s fees and charges that will determine the fee to be paid.

The requirement to show the CFT with a font size five times larger than that of the rest of the document (while retaining all proportions of line thickness, height and width) has been in force since 2016 for graphic and audiovisual advertising of loans and financial services. This measure aims at providing greater transparency to loan transactions while protecting users of financial services in their decision-making processes.

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