In Panama, the Assembly approved in third debate a bill that seeks to force banks to consolidate customers’ debts, regardless of their credit history.

According to Article 4 of the approved law, “… all credit obligations that the debtor has, regardless of the risk category or default status that these obligations register in the credit history of the interested party, are subject to debt consolidation.”

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A statement from the Assembly says that “... The deputy Marilyn Vallarino, proponent, stressed before the plenary that support is sought for the consolidation of debts through a mechanism of inclusion in a single letter and that the citizen has oxygen in their finances that are distributed in various payments to banking institutions.”

The document dated April 29th adds that “… Bill 234 was approved by the plenary and is based on a programme that adopts measures to provide financial relief to citizens who have commitments to banking institutions.”

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