Overview

• Cancellation would have to be completed within three business days without fees, commissions, penalties, or onerous procedures.
• Users must be able to cancel through in-person, phone, and digital channels so no one is left stuck in a contract for lack of access.
• The draft voids cards issued without explicit consent, bars misleading claims about costs and charges, and mandates refunds of wrongful debits.
• The measure places liability for improper charges on the issuing institution rather than the customer.
• Monreal grounds the initiative in ENIF 2024 and Condusef figures—more than 37 million credit cards and over 250,000 complaints in 2024, including about 7,000 over unattended cancellations—within a broader consumer protection push after recent action on digital subscription cancellations.