Economy March 26, 2020 | 8:55 am

Eliminated: minimum monthly payment on card debt balance, late fee

Santo Domingo.- Within the package of measures announced by President Danilo Medina Wednesday night, banks will eliminate the minimum monthly payment on the balance of the card debt and the late fee will be eliminated.

The actions aim to alleviate the economic crisis that has been generated after the temporary closure of hundreds of companies to stop COVID-19.

The agreement was established between the Economic Commission for the State of Emergency and the Association of Commercial Banks with the objective of “making its policy of cost to service of consumption financing via credit cards more flexible,” Medina said during his speech to the nation.