Regulatory Alerts2009-03-18 | CD-SIBOIF-577-1-MAR18-2009Added · Updated
Norm on Private Risk Centers
This regulation establishes the approval, constitution, and operational framework for Private Risk Centers (CRPs) under the supervision of the Superintendence of Banks and Other Financial Institutions. It mandates that CRPs obtain authorization from the Board of Directors, maintain a security deposit of 100,000 cordobas, and adhere to strict data handling, confidentiality, and security standards. The document defines the rights of data subjects, including the right to access their credit reports annually for free and to request rectification of inaccurate information, while imposing specific retention periods and audit requirements on the CRPs.
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