UP, founded more than 60 years ago, is one of the most important universities in Peru that is characterized by its economic training in all the professional careers it teaches. It is ranked 3rd nationally and 81st in Latin America.
Indecopi (the Peruvian public entity responsible for consumer protection) initiated an audit of UP. In this investigation, Indecopi specified that UP had been charging students an interest rate higher than allowed and had engaged in intimidating practices towards students who did not meet their payment obligations.
UP responded to this audit by stating that the excess amounts charged to students had already been refunded and that it had not engaged in any intimidating practices, as no student had been adversely affected. However, Indecopi decided to impose a fine of approximately one million dollars on UP.
In response, UP initiated a legal process to challenge the legality of the sanction imposed by Indecopi. UP’s primary arguments revolve around the assertion that the sanction imposed by Indecopi is in violation of the current regulations outlined in the Consumer Protection Code.
This is because it has not been determined what type of infraction UP committed, nor the severity level of the infraction (minor, major, or very serious).
In the coming months, the Hearing will be conducted, during which we will vigorously advocate UP’s position. We are highly confident that this will result in a favorable outcome for our client.
