24 July 2011

BRASIL / CHILE: New Consumer Credit Brings Big Debts...And Big Abuses.

                   NYT/ A. Barrionuevo...2 screen read combined


    In Brasil, credit card companies can legally charge astronomical interest rates of...220%.
    In Chile, the consumer goods company La Polar quietly...and unilaterally...renegotiated clients’ debts for more than six years.
    The result of credit for new consumers in the two nations has been booming growth...along with surging abuses and financial distress.