The MPs adopted the draft law to amend and supplement a number of legal acts that refer to credit bureaus in the final reading, by 74 votes in favor. The list of sources for forming the credit history was extended to ensure a broader financial profile of the applicant for a loan, IPN reports.
Under the changes, the period for presenting information by the sources for forming the credit history was decreased from seven to five years. A series of provisions were introduced to protect the rights and interests of borrowers, such as the possibility of inserting a message in the credit history at the request of the borrower, in case of disagreement with the information included in the credit history, and of a warning message, if the identification papers are stolen or lost. If the lender refuses to grant a loan because of a negative history, the applicant will be able to get free a copy of the credit report.
Changes were also made in the Contravention Code and the Penal Code. There were introduced penalties for non-observance of the legal rules and regulations of the National Commission for Financial Markets by the sources for forming the credit history and by credit history users and for non-implementation of the Commission’s recommendations following the identification of violations in their work.
