Regulatory Alerts2014-10-03 | Circular 17/2014Added
Circular 17/2014 — Information that Financial Entities Must Provide to Credit Reporting Agencies
Financial entities in Mexico are required to provide complete and truthful credit information to at least one credit reporting agency for all credit operations, including new loans and updates to existing ones, within 30 days of the last report. The circular mandates specific data fields for individuals, individuals with business activities, and legal entities, covering client details, addresses, employment, credit terms, balances, and guarantor information. Non-compliance with these reporting obligations is subject to sanctions imposed by the Bank of Mexico under applicable financial laws.
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