The growth of quick credit apps in Paraguay exposes consumers to interest rates reaching 60% and administrative fees of up to 30% of the borrowed amount, a practice regulated by the Central Bank of Paraguay (BCP) but still escaping authorities' control. The "shadow banking" model is also adopted by appliance retail chains, which inflate prices and impose disguised charges to circumvent usury laws.
Asociación de Bancos del Paraguay
Asociación que agrupa a los bancos del Paraguay.