CMF Files Charges Against Three Predatory Loan Apps for Alleged Usury
Summary
Chile's Financial Market Commission (CMF) announced it will file charges against three mobile applications offering loans for alleged usury. The apps are available for download on Google Play and other websites. The CMF stated these applications were operating as predatory lenders in violation of Chilean financial regulations.
What changed
The CMF announced it will file formal charges against three mobile applications suspected of predatory lending practices and usury violations. These apps, available on Google Play and other platforms, allegedly operated outside authorized financial licensing requirements.
Financial service providers offering loan products in Chile must ensure proper licensing and compliance with consumer protection regulations. Companies operating digital lending platforms should verify their authorization status with the CMF and implement appropriate disclosure and fair lending practices to avoid similar enforcement action.
What to do next
- Monitor CMF announcements for additional enforcement actions against unlicensed lending apps
- Review app portfolios for compliance with Chilean lending regulations
- Ensure any loan offerings comply with interest rate and disclosure requirements
Archived snapshot
Apr 11, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Financial Market Commission
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CMF to file charges against applications offering loans for alleged usury
They are available for download on Google Play and other websites.
April 10, 2026 - The Financial Market Commission alerts the public about three applications that are not regulated by the CMF and offer predatory loans.
The Commission filed a criminal complaint before the Public Prosecutor's Office against all parties responsible for these applications.
Said applications, which are available for download from Google Play and other websites, are the following:
- APP LUCADINERO.
- APP NEXCASH.
- APP LUKA RAPIDA. The Commission also reminds the public about the Fraud Alerts Page for investors, policyholders, and banking customers available on its website. Interested parties can verify here whether an entity or person offering financial products or services is supervised by the CMF; check alerts issued by the CMF and other foreign regulators on unregulated entities or activities; and other important advice for the protection of investors, policyholders, and financial clients.
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