Usury: Ministry of Economy and Finance, reform of the prevention fund now in operation, with more areas of action and monitoring

The reform of the MEF fund for the prevention of usury comes into effect today, 30 years after its establishment: monitoring has been strengthened and the scope of the scheme has been expanded to include new initiatives, such as microcredit and various types of financing. This was announced by the Ministry of Economy and Finance, noting that since its introduction under Law 108 of 1996, the fund "has provided access to credit worth over €2 billion for households and small and medium-sized enterprises in temporary difficulty, helping to prevent recourse to illegal channels".

The reform introduces more detailed monitoring of the use of resources, partly thanks to an updated information system, and recognises the work of "credit guarantee consortia, foundations and associations that have demonstrated, over time, a greater ability to use funds effectively for the benefit of households and SMEs". The new framework aims to simplify and clarify the operational rules, which are now set out in specific Operational Provisions available on the Treasury Department’s website.

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