The Commission for the Financial Market sanctioned five banks, two insurance companies and a savings cooperative for granting loansin 33 cases, to people who appeared in the National Registry of Food Pension Debtorswithout complying with the Law on Family Abandonment and Payment of Alimony (N°14,908).
The regulator explained that the rule establishes that financial institutions must consult the Registry when granting a loan and, if the applicant is in it, retain up to 50% of the amount granted for the payment of pensions owed.
The sanctioned firms are Banco Santander-Chile, for 11 casesto a fine of 756.06 UF; Itaú Bank (9)at 636.16 UF; BancoEstado (6)at 239.50 UF; Ripley Bank (2)at 138.54 UF and Bank of Chile (1)at 111.48 UF.
He also fined the Oriente Savings and Credit Cooperative Limitedby two violations; and the insurers Confuture (54.20 UF) and Bice Life (33.98 UF), for one foul each.
In several of the loans, the amount granted was up to six times less than the alimony debt that the applicant maintained.
For example, Itaú approved 1.8 million pesos to someone who owed 10.8 millionand BancoEstado gave 2.3 million to a debtor of 14.2 million.
In total, the CMF fined the seven financial institutions with 2,077 UF, equivalent to 77.4 million pesos in today’s value; amount that – establishes the law – is «for tax benefit.»