The CNMC investigates several financial entities for the ICO Covid credits

The National Markets and Competition Commission (CNMC) investigates several financial entities for the granting of ICO-COVID credits, to find out if there have been unfair acts, such as linking to products such as insurance, alarms or televisions.

In a note, the CNMC explains that it continues with the investigations that began during the months of confinement with the launch, six months ago, of the complaints mailbox ([email protected]), which intended to centralize all complaints and inquiries from citizens and companies.

In addition to the link to products other than credit, the CNMC examines whether there have been cases of restructuring of previous financial products or the payment of initial expenses as a condition for granting loans.

After the first complaints and inquiries, the CNMC initiated preliminary proceedings and carried out a series of requests for information from various financial institutions, and detected a series of actions that could violate competition regulations.


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