MercadoLibre—Mercado Pago lending rates prompted Buenos Aires Province consumer-protection probe and criminal usury complaint against CEO Galperin
Argentina's Buenos Aires Province government opened an investigation into Mercado Pago and other digital wallets after receiving 2,240 consumer complaints in the first half of 2026 alleging harassment, unclear loan information and abusive practices, with potential fines up to 1,883 million pesos. Separately, Partido Obrero leader Gabriel Solano filed a criminal usury complaint against Mercado Libre CEO Marcos Galperin and the company's board, alleging Mercado Pago's consumer loans carried an effective total annual cost (CET) of up to 1,375.94%, roughly 21 times the rate charged for comparable products in Brazil, and sought suspension of loan collections pending investigation. Mercado Libre had not agreed to a settlement (Conduct Adjustment Agreement) proposed in a related Bahia, Brazil prosecutorial matter as of reporting.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Consumer Protection | -against | primary | -1.00 |
| Overall incident score = | -0.925 | ||
Score = avg(topic contributions) × significance (high ×1.5) × confidence (0.62)
Evidence (2 signals)
Los Andes: Criminal usury complaint against Mercado Libre CEO Galperin expanded, seeks suspension of loan collections
Partido Obrero leader Gabriel Solano expanded a criminal complaint filed with Criminal and Correctional Court No. 53 against Marcos Galperin and Mercado Libre's board, alleging Mercado Pago charged an effective total annual financial cost of over 1,375%, and requested suspension of loan repayment collection pending investigation.
Infobae: Buenos Aires Province investigates Mercado Pago and other digital wallets over harassment, unclear disclosures
Buenos Aires Province governor's consumer protection directorate opened an investigation into Mercado Pago and other virtual wallets after 2,240 complaints in H1 2026, with potential fines up to 1,883 million pesos for harassment, unclear loan information and lack of transparency.