Regulatory Alerts2023-03-15
Credit Reporting Act, 2023
The Government of Belize enacted the Credit Reporting Act, 2023 to establish a fair and accurate credit reporting system regulated by the Central Bank of Belize. The legislation mandates licensing for credit bureaus and imposes strict requirements on credit information providers regarding data collection, security, and permissible purposes for accessing consumer information. It further empowers the Central Bank to supervise the industry, enforces consumer rights to access and correct data, and establishes civil liability and penalties for non-compliance.
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