{"id":2889,"date":"2015-12-14T09:52:14","date_gmt":"2015-12-14T09:52:14","guid":{"rendered":"http:\/\/progresomicrofinanzas.org\/?p=2889"},"modified":"2017-11-30T10:13:09","modified_gmt":"2017-11-30T10:13:09","slug":"reform-of-the-financial-habeas-data-regulations","status":"publish","type":"post","link":"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/reform-of-the-financial-habeas-data-regulations\/","title":{"rendered":"Reform of the financial habeas data regulations"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-right\"><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/2889?print=pdf\" class=\"pdfprnt-button pdfprnt-button-pdf\" target=\"_blank\" ><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/pdf.png\" alt=\"image_pdf\" title=\"View PDF\" \/><\/a><a href=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/en\/wp-json\/wp\/v2\/posts\/2889?print=print\" class=\"pdfprnt-button pdfprnt-button-print\" target=\"_blank\" ><img decoding=\"async\" src=\"https:\/\/www.fundacionmicrofinanzasbbva.org\/revistaprogreso\/wp-content\/plugins\/pdf-print\/images\/print.png\" alt=\"image_print\" title=\"Print Content\" \/><\/a><\/div><p>The Congress is studying Bill 095\/2015 to reform <a href=\"http:\/\/www.alcaldiabogota.gov.co\/sisjur\/normas\/Norma1.jsp?i=34488\">Law 1266\/2008 <\/a>on the handling of financial, credit, trade and services information and information from other countries (Financial Habeas Data Law). It would amend the following items:<\/p>\n<p>\u2022 It will reduce the maximum time that a negative credit-bureau report would remain valid from 4 to 2 years once the debt is paid off, maintaining it at 5 years when the debt is not fully paid off.<br \/>\n\u2022 The payment of obligations worth less than one PLMW or Prevailing Legal Monthly Minimum Wage (COP $644,350 = approx. USD $215) will generate immediate elimination of the negative report.<br \/>\n\u2022 Withdrawal of the negative report will immediately trigger an improvement in the customer&#8217;s credit rating.<br \/>\n\u2022 Querying the information at the risk bureaus will not bring down the holder&#8217;s credit rating. At present, too many queries against the information at the risk bureaus can impact the score for the rating. This change is also being sought under Bill 066\/2015 before the Chamber of Representatives.<br \/>\n\u2022 Special deadlines are established for eliminating the negative report of borrowers who pay their debts once the regulation comes into force.<\/p>\n<p><strong>The negative report as barrier preventing access to credit<\/strong><\/p>\n<p>This regulation aims to help people who may have failed to comply with their obligations to the financial system to avoid having their access to credit cut off for too long.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congress is studying Bill 095\/2015 to reform Law 1266\/2008 on the handling of financial, credit, trade and services information and information from other countries (Financial Habeas Data Law). It would amend the following items: \u2022 It will reduce the maximum time that a negative credit-bureau report would remain valid from 4 to 2 years [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":2694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"tags":[619,658,338,392,393,394],"class_list":["post-2889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-colombia-en-2","tag-habeas-data-en-2","tag-information","tag-negative-report","tag-risk-bureaus","tag-risk-rating","numero-5-en","seccion-published-and-draft-legislation-corporate-governance","pais-colombia-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reform of the financial habeas data regulations<\/title>\n<meta name=\"description\" content=\"Reform of the regulations on 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