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Positive credit registry law is approved in Brazil's Chamber of Deputies

May, 09, 2023 Hi-network.com
On 9 May, the Chamber of Deputies in Brazil approved the Complementary Law Project (PLP) 441/17, which makes participation in thePositive Credit Registry -a system that gathers information on payments made by Brazilian citizens and authorises financial institutions to include consumer information in the system, regardless of specific authorisation -compulsory. The new legislation, if also approved by the Senate, will authorise the automatic inclusion of all consumer information necessary to create an  individual's credit scoring, into a unique database accessible to all financial institutions. The bill has been welcomed by representatives of the financial sector and criticised by consumer associations and digital rights advocates, who opposed the proposal's approval.

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