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DECREE No. 695
THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,
CONSIDERING:
I.-

That Article 2, second paragraph of the Constitution states that “The
right to honor, to personal and family privacy and to one's own image ”.

II.-

That there is a manifestation of the right to privacy, which is precisely
the right to data protection and consists of the individual being able to
control the use or treatment thereof, in order to prevent injury to your
legal sphere.

III.-

That companies operate in our country that through the treatment
automated data refer exclusively to credit behavior
of people and on many occasions, these companies manage in a way that
undue the data of the people generating damages for them by
reasons of falsity or discrimination regarding the information or due to the lack of
updating of said information.

IV.-

That it is essential to protect the right of citizens regarding the
information of your credits so that it is correct and truthful and avoid injuring
his Constitutional Right to Honor and Privacy.

V.-

That for the aforementioned reasons it is of vital importance to establish a
general law that regulates information services on credit history
of people.

THEREFORE,
in use of its constitutional powers and at the initiative of Deputy Douglas Leonardo Mejía Avilés
and with the Support of the Deputies Antonio Echeverría Veliz, Blanca Noemí Coto Estrada, Misael Mejía Mejía,
Rafael Eduardo Paz Velis, Inmar Rolando Reyes, Francisco José Zablah Safie, Othon Sigfrido Reyes Morales,
Guillermo Antonio Gallegos Navarrete, Francisco Roberto Lorenzana Durán, Lorena Guadalupe Peña
Mendoza, Cesar Humberto García Aguilera, Irma Lourdes Palacios Vásquez, Mario Alberto Tenorio Guerrero,
Yohalmo Edmundo Cabrera Chacón, José Álvaro Cornejo Mena, Norma Cristina Cornejo Amaya, Carlos
Cortez Hernández, Luis Alberto Corvera Rivas, Darío Alejandro Chicas Argueta, Nery Arely Díaz de Rivera,
Emma Julia Fabián Hernández, Santiago Flores Alfaro, José Rinaldo Garzona Villeda, Gloria Elizabeth Gómez
de Salgado, Medardo González Trejo, Ricardo Bladimir González, José Nelson Guardado Menjívar, Norma
Fidelia Guevara de Ramirios, Jorge Schafik Handal Vega Silva, Benito Antonio Lara Fernández, Hortensia
Margarita López Quintana, Guillermo Francisco Mata Bennett, Erik Mira Bonilla, Guillermo Antonio Olivo
Méndez, Orestes Fredesman Ortez Andrade, Zoila Beatriz Quijada Solís, Dolores Alberto Rivas Echeverría,
Jackeline Noemí Rivera Ávalos, Abilio Orestes Rodríguez Menjívar, Sonia Margarita Rodríguez Sigüenza,
Luis Enrique Salamanca Martínez, Rodrigo Samayoa Rivas, Karina Ivette Sosa de Lara, Jaime Gilberto Valdez
Hernández, Ramón Arístides Valencia Arana, María Margarita Velado Puentes and Ana Daysi Villalobos from
Cross.
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DECREES the following:
LAW REGULATING INFORMATION SERVICES ON THE HISTORY OF
CREDIT OF PEOPLE
Chapter I
General disposition
Object
Article 1.- The purpose of this Law is to guarantee the right to honor, personal privacy
and familiar and to the own image in the matter of the reliability, the veracity, the update and the good handling
of the data of consumers or clients, related to their credit history, incorporated or susceptible
to be incorporated into a data information agency managed by a legal person,
duly authorized in accordance with this Law.
Likewise, it is intended to regulate the activity of public or private legal entities, which
have authorization to operate as data information agencies and the economic agents that
maintain or handle data on the credit history of consumers or customers.
Area of ​application
Article 2.- This Law will be applicable to economic agents, natural persons or
legal, public or private, with the exception of the Superintendency of the Financial System, which carry out
any economic, financial, banking, commercial, industrial or service activity that they handle or
have access to data on the credit history of consumers or customers, by themselves, through
intermediaries or a leased service.
It will also be applicable to data information agencies, legal entities, public or
private entities, with the exception of the Superintendency of the Financial System, which have authorization to provide
the storage, transmission and information service, by any technological or manual means, of
data on the credit history of consumers or customers.
Definitions
Article 3.- For the purposes of this Law, it shall be understood as:
Data information agency : Any legal person, public or private, except for the
Superintendency of the Financial System, which is dedicated to collecting, storing, preserving, organizing,
communicate, transfer or transmit data on the credit history of consumers or customers, to
through technical procedures, automated or not.
Economic agents: They are natural or legal persons, providers of goods and services, who
they record, supply and obtain information from a database.
Database: Organized set of data on the history of current or active credits, canceled
or inactive that the consumer or client has or has had, whatever the form or modality
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of its creation, storage, organization and access.
Consumer or client: Any natural or legal person that acquires, uses or enjoys an agent
economic goods or services, whatever the public or private, individual or collective nature of
those who produce, market, facilitate, supply or ship them.
DATA: INFORMATION ABOUT THE CREDIT HISTORY OF CONSUMERS OR CUSTOMERS, WHICH
IT IS THE PROPERTY OF THESE AND THAT IT CONSISTS IN A DATABASE. (1)
Credit History: Data of consumers or clients, duly incorporated into a database of
data, reflecting economic, commercial, financial or banking transactions payable in installments.
Data Processing : Any operation or set of technical operations or procedures
automated or not that, within a database, allow to collect, store, organize, elaborate,
select, extract, confront, share, communicate, transmit or cancel consumer data or
clients, relative to their credit history.
General principles
Article 4.- What is regulated in this Law shall be governed in accordance with the following principles:
to)

Access of the Interested Person: Any consumer or client who demonstrates their
identity has the right to know if information about your history is being processed
credit, obtain a copy, at the time the consumer or customer requests it.
And you also have the right to obtain rectifications or deletions according to this Law,
when the records are illegal, erroneous, unjustified or inaccurate.

b)

Data quality: Credit history data provided by consumers
or clients or by economic agents, those managed by information agencies
of data and those generated by transactions of a credit, financial, banking,
commercial or industrial, must be accurate and periodically updated, at least
every month, so that they respond truthfully to the real situation of the consumer or customer.

c)

Reservation: All natural or legal persons, public or private, who have access
to any information related to credit history in accordance with this
Law, they must keep due reserve regarding said information and, consequently, not
may disclose it to third parties, except in the case of a competent authority or
information comprised in ordinary operations within the agencies' business
of information.
The competent authorities to request the information referred to in paragraph
above are, the Superintendency of the Financial System, Consumer Defender,
Attorney General of the Republic and the judicial courts.
Public or private officials who, due to the positions they hold,
have access to the information covered by this Law, they will be obliged to keep the

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due reserve, even when they cease to function.
d)

Data security: Economic agents and data information agencies
on credit history, they must adopt the necessary technical measures or controls
to avoid the alteration, loss, treatment or unauthorized access of the data on
credit history that they manage or maintain in their respective databases.

Competent Authority
Article 5.- The Superintendency of the Financial System will be in charge of authorizing and revoking
the authorization to legal persons, to exercise the activity of information agency of data on
credit history, and keep a record of these.
The Superintendency will have the power to oversee that the data information agencies
meet consumer data security, reliability, and up-to-date requirements
and customers, as well as any other established by this Law.
THE CENTRAL RESERVE BANK SHALL DICTATE THE TECHNICAL RULES FOR THE
ORGANIZATION, OPERATION, CONTROL AND OTHER ASPECTS RELATED TO AGENCIES
OF INFORMATION OF DATA ON CREDIT HISTORY; AS WELL AS DETERMINING THE TIME
CONCRETE OF PERMANENCE OF THE DATA ON THE CREDIT HISTORY IN THE DATABASES
OF THE REFERRED INFORMATION AGENCIES, AND TO ESTABLISH CLEARLY AND IN DETAIL WHICH
ARE THAT PERSONAL DATA THAT MUST BE PROVIDED BY CONSUMERS
TO THE ECONOMIC AGENTS, THOSE WHO SHOULD BE RELATED TO THE INFORMATION THAT IS
YOU NEED FOR THE PREPARATION OF THE CREDIT HISTORY. (1)
WITH THE PURPOSE OF PERFORMING AN APPROPRIATE REGULATION, MONITORING AND
EVALUATION OF PUBLIC POLICIES OF THE FINANCIAL SYSTEM; AND HAVE INFORMATION
ESSENTIAL TO ASSESS THE IMPACTS OF THE PROVISIONS CONTAINED IN THE ISSUE OR
REFORMS OF TECHNICAL RULES ASSOCIATED WITH THIS LAW, THE SUPERINTENDENCY OF THE SYSTEM
FINANCIAL, AT THE REQUIREMENT OF THE CENTRAL RESERVE BANK OF EL SALVADOR, WILL BE
OBLIGATED TO SEND THE INFORMATION THAT YOU REQUEST FOR IT IN A TIMELY TIME. (1)
The Superintendency, within the scope of its powers, will sanction the agencies of
data information that violates the provisions of this Law, as a result of their functions of
monitoring and inspection of these.
Competence of the Consumer Ombudsman
Article 6.- The Consumer Ombudsman, will know and attend the complaints or complaints of the
consumers or clients, and will supervise and investigate the practices of economic agents and agencies
of data information, in accordance with the scope of this Law.
The Consumer Ombudsman, through the Sanctioning Court, will be empowered to sanction
to economic agents and data information agencies that, as a result of the investigation
of complaints or complaints submitted by consumers or customers, they are found to have infringed
their rights in the cases indicated in this Law.
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THE CONSUMER OMBUDSMAN WILL HAVE THE POWER TO REQUEST THE INFORMATION
NECESSARY AND CARRY OUT VERIFICATIONS, IN ORDER TO CARRY OUT THE ADMINISTRATIVE INVESTIGATIONS
RELATED EXCLUSIVELY, AND IN EACH CASE, WITH THE COMPLAINT OR COMPLAINT SUBMITTED. WHEN
THERE ARE COLLECTIVE OR DIFFUSE INTERESTS, THE CONSUMER Ombudsman, IN THE YEAR
OF ITS COMPETENCES, YOU WILL HAVE THE POWERS TO VERIFY AND INVESTIGATE EXPRESSLY, THE
PRACTICES OF ECONOMIC AGENTS AND DATA INFORMATION AGENCIES, OF
COMPLIANCE WITH THE ATTRIBUTIONS ESTABLISHED IN THE CONSUMER PROTECTION LAW.
ALSO, WHEN THE ABOVE INTERESTS EXIST, YOU WILL HAVE THE POWERS TO
REQUEST REPORTS AND INVESTIGATE THE PRACTICES OF NON-SUPERVISED ECONOMIC AGENTS
BY THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM. (1)
The Office of the Ombudsman will send monthly to the Superintendency of the Financial System copies of all
the duly executed resolutions, in which sanctions are imposed on the agencies of
data information, originated by infractions of this Law to the detriment of a consumer or
particular customer.
Prescription
Article 7.- The Civil and Commercial Courts will hear the action for damages.
that are presented against economic agents and / or data information agencies.
For the purposes of this Law, the statute of limitations to appeal to the courts of justice
corresponding and request compensation for damages is three years, counted from the
moment in which the consumer or client had knowledge of the affectation.
The limitation period of the action for damages is interrupted by the presentation
of formal claim before the Superintendency of the Financial System or Consumer Defender.
Chapter II
Requirements to Operate a Data Information Agency
Authorization
Article 8.- Any public or private legal person that wishes to operate an information agency
of data on people's credit history, you must request authorization from the Superintendency of the
Financial System to carry out said activity.
THE INFORMATION SERVICE ON THE CREDIT HISTORY OF THE PEOPLE WILL BE ABLE TO
BE LOANED BY LEGAL PERSONS, PUBLIC OR PRIVATE, WHO WILL BE KNOWN AS
DATA INFORMATION AGENCIES. (1)
WHEN IT COMES TO PRIVATE DATA INFORMATION AGENCIES, THEY SHOULD
CONSTITUTE, HAVING AS THE MAIN PURPOSE, THE COLLECTION OF DATA INFORMATION
ON THE CREDIT HISTORY OF THE PEOPLE. HOWEVER, IT IS EXPRESSLY FORBIDDEN,
TO THESE DATA INFORMATION AGENCIES, USE THE INFORMATION COLLECTED FROM
CREDIT HISTORY OF CLIENTS OR CONSUMERS FOR PURPOSES OTHER THAN THOSE
ESTABLISHED IN THIS LAW. THESE SHOULD HAVE A MINIMUM SHARE CAPITAL OF
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ONE HUNDRED FIFTY THOUSAND DOLLARS OF THE UNITED STATES OF AMERICA, FULLY SUBSCRIBED
AND PAID IN CASH. THE CAPITAL OF THESE AGENCIES WILL BE ADJUSTED BY THE SUPERINTENDENCY,
EVERY TWO YEARS, TAKING INTO CONSIDERATION THE VARIATION IN THE PRICE INDEX AT
CONSUMER, PRIOR OPINION OF THE CENTRAL RESERVE BANK; IN ADDITION, THEY WILL CONTRIBUTE TO
FINANCING OF THE BUDGET OF THE SUPERINTENDENCY AND APPEALS COMMITTEE, UP TO
A ZERO POINT SEVENTY-FIVE PERCENT OF YOUR ANNUAL INCOME. (1)
DATA INFORMATION AGENCIES MUST HAVE A MANAGEMENT BODY
PROFESSIONAL, TRAINED PERSONNEL, EQUIPMENT AND TECHNOLOGICAL PLATFORM TO MANAGE
THE INFORMATION, ADMINISTRATIVE CONTROL SYSTEMS, SECURITY APPLICATIONS, MANUALS,
PROCEDURES, POLICIES, INTERNAL CONTROLS AND BUSINESS CONTINUITY PLANS THAT
GUARANTEE THE PROPER FUNCTIONING TO OFFER THE SERVICES REGULATED IN THIS
LAW, ALL IN ACCORDANCE WITH THE CURRENT LEGAL ORDER AND THE TECHNICAL RULES THAT
THE CENTRAL RESERVE BANK SAYS FOR SUCH EFFECT. (1)
The Superintendency will be empowered to carry out the necessary investigations, with
The purpose of verifying the information provided in the application.
Address
Article 9.- Legal persons authorized to operate as an information agency
of data on credit history, must be domiciled in the country.
Application for Legal Persons
Article 10.- The request for legal persons will be presented by the legal representative, in
Simple paper or in form that will be provided for this purpose, and must contain the following information:
to)

Name or business name of the applicant.

b)

Class of society or association in question.

c)

Date of its registration in the corresponding Public Registry, with indications of the volume,
respective folio and seat.

d)

Name of its directors, legal representative and general attorney, if any.

and)

Legal address of the applicant.

F)

Business name of the credit history data information agency.

g)

Exact address of the commercial establishment, telephone numbers, postal and mail
electronic, if any.

h)

Tax identification number.

This request must be accompanied by the following documentation:
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to)

Copy of the public deed of Constitution of the Company and the amendments, if the
Any, duly registered in the corresponding Registry.

b)

Certification of the respective Registry, where the validity and registration data of
the legal person, as well as the name of the directors, legal representative and attorney-in-fact
general, if any.

c)

Certified photocopy of the Unique Identity Document, valid Passport or ID card
resident as the case may be and the Tax Identification Number of its directors,
legal representative and general attorney-in-fact, if any.

d)

Solvency of Police Records, issued by the National Civil Police, of the
directors, legal representative and general attorney, if any.

and)

Solvency of Criminal Records, issued by the General Directorate of Penal Centers
of the Ministry of Justice and Public Security, of the directors, legal representative and
general attorney, if any.

F)

Deposits of the form of contracts for the provision of services in the Superintendency of the
Financial System and the Consumer Defender.

g)

Fiscal and municipal financial solvency of the company.

h)

General operating program, comprising at least:
1st.

The description of the computer systems and collection processes and
information processing.

2nd.

The characteristics of the products and services they will provide.

3rd.

The service provision policies with which they intend to operate.

4th.
5th.

The security and control measures, in order to avoid the improper handling of the
information.
The bases of organization.

6th.

The contingency plan in case of disaster.

7

Terms to Resolve on the Request
Article 11.- The application has been received and once it is verified that it meets the established requirements
in this Law, the Superintendency of the Financial System, by means of a reasoned resolution, will issue the
corresponding authorization, within a period of no more than sixty calendar days.
The Superintendency of the Financial System will reject, by means of a reasoned resolution, any request
that does not meet the requirements set forth in this Law, or that is not accompanied by the documents to be
Article 10 refers, within a period of no more than sixty calendar days.
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Registry
Article 12.- The authorization issued by the Superintendency of the Financial System will be registered
in a special registry called the Registry of Information Agencies of Data on Credit History
of the People, which for this purpose will create said Superintendency.
The inscription in this Registry will contain the following information:
to)

Resolution number and its date of issue.

b)

Name or company name, physical and electronic address, telephone numbers of the person
legal entity to whom the authorization was given and, in addition, that of his legal representative.

c)

Trade name and exact address of the establishment where the company will operate.

d)

Start date of operations.

This record will be public and may be consulted by any person or institution.
Modification of the Registry
Article 13.- Any change or modification that affects the data of the respective registration, must
be communicated by the legal representative of the credit history data information agency
to the Superintendency of the Financial System, within ten business days after the date on which
was produced, in order to carry out the corresponding authorization, which will be noted in the marginal of
respective inscription in the Registry, without prejudice to what other laws establish.
Chapter III
Rights and Duties of Consumers or Clients
Rights of Consumers or Clients
Article 14.- Consumers or clients will have the following rights:
to)

ACCESS TO INFORMATION: CONSUMERS OR CUSTOMERS HAVE THE RIGHT
TO KNOW ALL THE INFORMATION THAT THEY KEEP OR HANDLE THE
ECONOMIC AGENTS AND DATA INFORMATION AGENCIES. FOR THIS, THE
DATA INFORMATION AGENCIES MUST HAVE AT LEAST ONE CENTER
OF CUSTOMER SERVICE IN EACH REGION, SO THAT INTERESTED PEOPLE
YOU CAN SEE YOUR INFORMATION.
THE CONSULTATION OF THIS INFORMATION WILL NOT CAUSE ANY COST TO THE
CONSUMERS OR CUSTOMERS.
THE CORRESPONDING DATA INFORMATION AGENCY SHALL PROVIDE
WRITTEN FORM, AT THE TIME REQUESTED, THE INFORMATION TO THE
CONSUMER OR CUSTOMER, PRIOR REQUIREMENT MADE VERBAL

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OR WRITTEN, VERIFYING THE IDENTITY OF THE CONSUMER OR CUSTOMER; AS WELL AS,
TO KNOW WHICH CREDITOR ENTITIES HAD ACCESS TO YOUR HISTORY
OF CREDIT, AND THE USE FOR WHICH IT WAS REQUIRED.
IN ALL CASES, THE DATA INFORMATION AGENCY WILL PROVIDE THE
CONSUMER OR CUSTOMER, UPON REQUEST FROM É
STE, AND VERIFIED THE
OWNERSHIP OF THE RIGHT TO YOUR APPLICATION, THE INFORMATION RELATING TO THE
CREDIT HISTORY; FOR WHICH, YOU MUST DISPOSE OF, AMONG OTHERS, MEANS
TECHNOLOGICALS THAT FACILITATE YOUR ACCESS.
THE DATA INFORMATION AGENCIES WILL ISSUE CERTIFIED COPIES OF THE
CREDIT HISTORY REQUESTED FROM THEM. SUCH CONSULTATION SHOULD NOT
GENERATE SOME PAYMENT, UP TO A MAXIMUM OF ONE QUERY EVERY FOUR
MONTHS. WILL BE SUBJECT TO THE PAYMENT OF A FEE FOR EXCEEDING THE CERTIFICATIONS
EXTENDED, WHICH WILL BE SET BY THE DATA INFORMATION AGENCIES,
WITH THE AUTHORIZATION OF THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM. Said
CERTIFICATION MUST BE DELIVERED WITHIN A PERIOD OF NO GREATER THAN THREE DAYS
SKILLED; (1)
b)

Information fidelity: Personal and credit data will be exact
and updated, periodically, at least every month or in the way that has been
contractually established between the economic agent and the information agency of
data, so that they respond truthfully to the current and real situation of the consumer
or customer;

c)

GOOD HANDLING OF INFORMATION: PERSONAL DATA AND
CREDIT, SUBJECT TO TREATMENT, MAY NOT BE USED FOR PURPOSES
DIFFERENT FOR WHICH THEY WERE COLLECTED.
IN NO EVENT WILL THE INFORMATION CONTAINED IN THE CREDIT REPORTS MAY
BE USED BY NATURAL OR LEGAL PERSONS, AS A CRITERION OF
HIRING, SELECTION OR CAUSAL OF DISMISSAL OF PERSONNEL, EXCEPT FOR
JUDICIAL OR LEGAL ORDER THAT WERE SO MERITED OR BY THE EXCEPTIONS
ESTABLISHED IN LAW; NEITHER THE ECONOMIC AGENTS, NOR THE AGENCIES OF
DATA INFORMATION WILL BE ABLE TO DELIVER HISTORY INFORMATION
CREDIT FOR THE PURPOSES DESCRIBED ABOVE; (1)

d)

CONSENT TO THE COLLECTION AND TRANSMISSION OF INFORMATION: THE
DATA ON CREDIT HISTORY, PROVIDED BY CONSUMERS OR
CUSTOMERS TO ECONOMIC AGENTS, MAY ONLY BE COLLECTED OR
TRANSMITTED TO THE DATA INFORMATION AGENCIES AND SUPPLIED BY
THESE TO THE ECONOMIC AGENTS, WITH THE WRITTEN AND EXPRESS AUTHORIZATION
OF THE CONSUMERS OR CLIENTS, IN ACCORDANCE WITH THE ESTABLISHED IN THE
ARTICLE 18 OF THE CONSUMER PROTECTION LAW. SUCH AUTHORIZATION
IT MUST BE CONSTANTED IN A DOCUMENT OR OTHER INDIVIDUAL MEANS THAT ALLOW
THE LAWS, THAT BE SPECIAL TO THE EFFECT.

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CASES CONSISTING IN PROTESTED CHECKS WILL BE EXCEPTED, DUE TO FAILURE
OF FUNDS OR BY HAVING BEEN DIVIDED AGAINST A CLOSED CURRENT ACCOUNT, OR
BY ORDER OF SUSPENSION OF PAYMENTS; (1)
and)

Rectification, modification and elimination of the information : As soon as a
consumer or client is aware that a data has been registered or supplied
about your wrong, inaccurate, misleading, incomplete, late or false credit history
about any credit information or economic, financial, banking transaction,
commercial or industrial that affects you, may demand its rectification, modification or
cancellation, in accordance with the procedure established in Chapter V of this Law.
This procedure will also be applicable to all those data or credit references
that, at the time this Law enters into force, maintain or manage the agent
economic and data reporting agencies or credit references.
Economic agents must create processes to mitigate the damage caused to the
consumer or client, in case of an error in the historical information of the same,
as well as provide the documentation that evidences the error made, so that the
consumer can present it where appropriate;

F)

Indemnification: Consumers or customers who, as a consequence of the breach
to the provisions of this Law by the economic agent or the agency of
data information on people's credit history, suffer some kind of damage
They will have the right to file the action for damages before the ordinary jurisdiction
corresponding, in accordance with the provisions of article 7 of this Law;

g)

Update: Every consumer or client has the right to have their information updated
credit;

h)

IDENTIFICATION OF THE QUALITY OF GUARANTOR OR SOLIDARY CODEBOR: ALL
CONSUMER OR CUSTOMER HAS THE RIGHT TO BE SPECIFIED IN HIS HISTORY
OF CREDIT, WHEN ANY NEGATIVE DATA OF THE SAME IS ASSOCIATED OR IS
IT DERIVES ONLY FROM ITS STATUS OF GUARANTEE OR JOINT CODEBOR; e, (1)

i)

NEGATIVE DATA INCLUSION REQUIREMENTS: ONLY THE
INCLUSION OF NEGATIVE DATA, WHEN THE PREVIOUS EXISTENCE OF A
CERTAIN DEBT, PARTIALLY OR TOTALLY OVERDUE, CLAIMABLE, WHICH HAS RESULT
UNPAID.
ADDITIONALLY, IN THE CASE OF THE GUARANTOR AND SOLIDARY CODEBOR, YOU MUST
MAKE THE PRIOR REQUIREMENT OF PAYMENT TO THE MAIN DEBTOR.
THE ECONOMIC AGENT OR ANYONE ACTING ON HIS OWN OR INTEREST WILL BE OBLIGATED
TO KEEP, AT THE DISPOSAL OF THE DATA INFORMATION AGENCY, OF THE
SUPERINTENDENCE OF THE FINANCIAL SYSTEM AND THE DEFENDENCY OF THE
CONSUMER, SUFFICIENT DOCUMENTATION THAT CREDITS COMPLIANCE WITH
THE DATA INCLUSION REQUIREMENTS. (1)

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The provisions of this article shall be understood without prejudice to the provisions of the legislation on
consumer protection.
Access for Information Consultation
Article 15.- The economic agent may only have access to consult information on the history
credit of the consumer or client, with the proper authorization of the latter, and only under the conditions
in which it has been conferred.
The authorization referred to in this article must be recorded in a special document issued
for this purpose and may not be part of the general clauses of the contracts that the consumer signs with the
economic agent.
WHEN THE CONSUMER OR CUSTOMER DOES NOT AUTHORIZE THE USE OR CONSULTATION OF THE INFORMATION
BY THIRD PEOPLE, IT WILL NOT BE CAUSAL FOR THE ECONOMIC AGENT TO REFUSE TO PROVIDE YOU
THE SERVICE OR SELL YOU THE PRODUCT IN QUESTION. (1)
Duty of Consumers or Clients
Article 16.- Consumers or clients must provide truthful information to agents
economic information on your personal data, as well as, rectify information at the request of the economic agent
or data information agency.
Chapter IV
Duties and Obligations of Data Information Agencies About
Credit History and Economic Agents
Duties of Data Information Agencies
Article 17.- Legal persons that operate as data information agencies have
the following duties:
to)

INFORM OR PROVIDE THE CREDIT HISTORY TO THE CONSUMER OR CUSTOMER
THAT REQUEST IT, IN THE TERMS ESTABLISHED IN THIS LAW; (1)

b)

Update the information about the credit history that you receive from the agents every month
economic;

c)

In those cases in which the rectification of data related to the history of
credit, provided by economic agents, there will be a period of five days
at most to do so;

d)

Comply with the provisions of this Law, especially with regard to the rights of
information, access, rectification and cancellation of credit history data;

and)

Provide, free of charge, at the request of the consumer or client, a copy of the registration in

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the relevant party, in the event of a request for access, modification or deletion of data;
F)

Provide the information required by the competent authorities;

g)

The information agencies must allow the Superintendency of the Financial System
conducting audits of the computer system;

h)

HAVE AT LEAST ONE CUSTOMER SERVICE CENTER IN EACH REGION OF THE
COUNTRY, IN WHICH QUESTIONS AND RELATED MANAGEMENTS MAY BE CARRIED OUT
TO THE CREDIT HISTORY OF THE CONSUMERS OR CUSTOMERS, WHICH WILL BE
SERVED EFFECTIVELY IN A TIME NOT GREATER THAN THREE BUSINESS DAYS.
IN ADDITION, THEY MUST HAVE AT LEAST ONE CALL CENTER
AT THE NATIONAL LEVEL AND IN EXTENDED SCHEDULES FOR THE PURPOSES BEFORE
MENTIONED; MUST PUBLISH EVERY SIX MONTHS AND WHEN SOMEONE IS DONE
CHANGE, FOR THE KNOWLEDGE OF CONSUMERS OR CUSTOMERS, THROUGH
TWO NEWSPAPERS OF NATIONAL CIRCULATION AND PERMANENTLY ON THEIR PAGES
ELECTRONICS, ADDRESSES AND TELEPHONE NUMBERS OF EACH OF THE
CUSTOMER SERVICE CENTERS; (1)

i)

When a data intelligence agency for any reason terminates its operations
in the country, you must deliver your database to the Superintendency of the Financial System;

j)

DELETE AND PERMANENTLY INUSE THE NEGATIVE DATA OF THE
CREDIT HISTORY OF THE CONSUMER OR CUSTOMER, ONCE THE
PERIOD NO GREATER THAN THREE YEARS, STARTING FROM THE INCORPORATION OF SUCH DATA
TO THE BASE.
NOTHING ABOVE THE ABOVE, IN CASE THE CONSUMER OR CUSTOMER CANCELS
FULLY YOUR CREDIT, THE INFORMATION THAT AFFECTS
NEGATIVELY YOUR CREDIT HISTORY MORE THAN ONE YEAR, AND IN CASES THAT
SUCH CANCELED DEBT DOES NOT EXCEED HALF A MINIMUM SALARY FOR THE SECTOR
COMMERCE AND SERVICES, WILL NOT BE ABLE TO REMAIN MORE THAN SIX MONTHS.
THE DATA INFORMATION AGENCIES MUST SEND MONTHLY TO THE
SUPERINTENDENCY AND TO THE ECONOMIC AGENTS, A REPORT ON THE
INFORMATION FROM PEOPLE FROM WHOM IT HAS BEEN REMOVED
PERMANENTLY THE DATA THAT NEGATIVELY AFFECTS YOUR CREDIT HISTORY
PURSUANT TO THE PREVIOUS SECTION; (1)

k)

SPECIFY IN THE CREDIT HISTORY, WHEN A NEGATIVE DATA OF THE SAME,
IS ASSOCIATED OR IS SOLELY DERIVED FROM THE STATUS OF GUARANTOR OR CO-DEBTOR
SOLIDARY; (1)

l)

PROVIDE THE CONSUMER OR CUSTOMER, IN WRITING OR THROUGH ANY OTHER
TECHNOLOGICAL INNOVATION MEANS, INFORMATION AT THE MOMENT WHEN
YOU ARE REQUESTED, PRIOR REQUIREMENT, MADE VERBAL OR WRITTEN,

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OR BY ANOTHER TECHNOLOGICAL MEANS, WHICH FOR THE EFFECT PROVIDE THE AGENCIES OF
DATA INFORMATION. SUCH INFORMATION MUST INCLUDE THE NAME OF THE
CREDITOR INSTITUTIONS THAT HAD ACCESS TO YOUR CREDIT HISTORY IN
THE LAST THREE YEARS, AND THE USE FOR WHICH IT WAS REQUIRED; (1)
m)

DELIVER TO THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM, UPON REQUEST
THEREOF, WITHIN THE PERIOD ESTABLISHED IN THIS LAW, AND UNDER ANY CIRCUMSTANCES
THAT IMPLIES THE SUSPENSION OR CANCELLATION OF ITS OPERATIONS, THE BASIS OF
DATA CONTAINED IN THE CREDIT HISTORY OF THE PEOPLE; And, (1)

n)

MAINTAIN THE DATABASE IN THE COUNTRY AND ALLOW ACCESS TO THE
SUPERINTENDENCE OF THE FINANCIAL SYSTEM. (1)

Duties and Obligations of Economic Agents
Article 18.- Economic agents have the following duties and obligations:
to)

Provide monthly information in the first fifteen calendar days
updated, true and reliable of all your records to the agencies of
data information, to which they are affiliated.
Economic agents have the obligation to communicate to consumers and customers
What type of information is entered in the database of the information agency of
data and what is the criterion used for the delay or delay in complying with the
credit obligation;

b)

Send the order to rectify the information provided to the respective agencies
of data information as appropriate, in a term not exceeding three business days
after the correction of the data has been requested by the consumer or client;

c)

Send within a period of no more than three business days, to the information agencies
corresponding data, updating the data referring to the obligations of
customers or consumers;

d)

Provide the information requested by the competent authorities, both administrative
as jurisdictional;

and)

Address complaints made by consumers or customers;

F)

Extend to the consumer or client, the respective proof of receipt of complaint or
complaint filed by him; Y,

g)

PROVIDE THE RESPECTIVE DATA INFORMATION AGENCIES, THE
RELEVANT CERTIFICATIONS THAT HAVE THE AUTHORIZATIONS
ISSUED INDIVIDUALLY AND EXPRESSLY BY THE CONSUMER OR CUSTOMER, BOTH
FOR THE CONSULTATION AND FOR THE TRANSMISSION OF DATA, TOGETHER WITH THE SHIPPING
MONTHLY UPDATED INFORMATION REFERRED TO IN THE LITERAL

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a) OF ARTICLE EIGHTEEN OF THIS LAW. (1)
THE ECONOMIC AGENTS WILL BE ABLE TO CONTRACT THE SERVICE OF CLASSIFICATION AND
RATING OF THE CREDIT RISK PROFILE OF A PERSON, CONSUMER OR CUSTOMER,
ALWAYS AND WHEN IT IS GUARANTEED THAT SUCH SERVICE DOES NOT VIOLATE THE RIGHTS OF
PEOPLE. (1)
Prohibitions to Information Agencies in Relation to their Databases
Article 19.- Without prejudice to other prohibitions contained in this Law, it is expressly
the following prohibited:
to)

Include in the database without the express consent of the consumer or client, the history
payment of users of basic residential services, such as telephony,
electricity, water, sewer and garbage collection. This consent will be issued
in an individual form;

b)

Include in the databases of the data information agencies the names of the
natural persons representing legal persons, except in the case that said
persons are linked to the corresponding credit transaction;

c)

Include any type of qualifier in the credit history databases
subjective opinion of the consumer or client about the experience, behavior or handling in the
fulfillment of your credit obligations. They will not be included within this
prohibition, the objective or technical qualifications that may be made regarding the
experience, behavior or management in complying with credit obligations
of the consumer or customer;

d)

Publish, by any means of communication, the name of a natural person or
legal, for breach of its credit obligations;

and)

Universal market their databases or deliver all credit information
contained therein;

F)

Exercise the activity of the data information agency without having previously obtained
the corresponding authorization by the Superintendency of the Financial System;

g)

Collect, store, update, record, organize, systematize, elaborate, select,
confront, interconnect in their databases, and, in general, use in a report of
credit, or by any other format or medium, the information of the holders who
are specified below:
1st.

Information on the balances and movements of current accounts and / or
saving the information holders.

2nd.

Information on certificates of deposits, of any nature, of a
holder in banking or financial institutions.

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h)

3rd.

Information referring to the moral or emotional characteristics of a
natural person.

4th.

Information related to facts or circumstances of the affective life of
natural persons, such as their personal habits.

5th.

Information on consumer habits.

6th.

Information on political ideologies and opinions.

7th.

Information about religious beliefs or convictions.

8th.

Information on the states of physical or mental health.

9th.

Information about sexual behavior, preference or orientation.

fifteen

USE, TRANSFER, SHARE AND MARKET ANY TITLE AND
DESTINATION OF THE INFORMATION OF THE PEOPLE CONSISTING IN ITS DATABASE,
WITHOUT THE EXPRESS CONSENT OF THEIR OWNERS TO CARRY OUT SUCH
ACTIVITIES. (1)
Chapter V
Procedure for the Rectification, Modification and Cancellation of Data

Exercise of Rights
Article 20.- THE RIGHTS OF ACCESS, RECTIFICATION, MODIFICATION AND CANCELLATION
OF THE DATA STORED TO PROVIDE THE DATA INFORMATION SERVICES ON
CREDIT HISTORY, MAY BE EXERCISED BY THE CONSUMER OR CUSTOMER BEFORE THE AGENT
ECONOMIC, DATA INFORMATION AGENCY, THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM
OR THE CONSUMER OMBUDSMAN, MAY THE CONSUMER OR CUSTOMER, MAKE A CLAIM
TO RECTIFY YOUR DATA BY THE MEANS ESTABLISHED IN THIS LAW, INCLUDING
THE TECHNOLOGICAL MEANS, ADDING THE PROBATORY DOCUMENTATION IN THIS REGARD. (1)
Application Requirements
Article 21.- THE PRESENTATION OF A COMPLAINT OR COMPLAINT BEFORE THE FINANCIAL AGENT,
THE DATA INFORMATION AGENCY, THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM OR THE
CONSUMER OMBUDSMAN, MUST BE MADE BY PRINTED APPLICATION, BY MAIL
ELECTRONIC OR OTHER TECHNOLOGICAL MEANS. SUCH DOCUMENT, TO BE ATTENDED, MUST
CONTAIN THE FOLLOWING: (1)
to)

Complete general statements of the affected consumer or client, with special indication of their
address, telephone number and any information that allows you to locate it;

b)

Petition in which the purpose of the request is specified;

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c)

Photocopy of the Unique Identity Document or, failing that, of the documentation that
prove your identity;

d)

Any document that the interested party considers demonstrative of the complaint that he formulates;
Y,

and)

THE IDENTIFICATION AND GENERAL DATA OF THE INFORMATION PROVIDER, IN CASE
THAT THE CUSTOMER KNOWS THEM. (1)

16

Presentation of the Request before the Economic Agent or Data Information Agency
Article 22.- IN CASE THE CONSUMER OR CUSTOMER DECIDES TO ACT BEFORE THE AGENT
ECONOMIC OR THE DATA INFORMATION AGENCY, SUCH REQUEST WILL BE PRESENTED TO THE AGENT
ECONOMIC OR TO THE DATA INFORMATION AGENCY, WHO SHOULD RECEIVE IT, EXPRESSING
THE DAY AND THE TIME IN WHICH YOU DO IT.
THE ECONOMIC AGENT OR THE DATA INFORMATION AGENCY SHALL ANSWER THE
REQUEST TO BE ADDRESSED BY THE INTERESTED PARTY, WITHIN A PERIOD OF NO GREATER THAN FIVE BUSINESS DAYS. (1)
Presentation of the Application before the Consumer Ombudsman
Article 23.- After the period of five business days has elapsed from the presentation of the rectification request,
modification or cancellation of data or credit references, without the economic agent or agency
of data information, has given a response to the consumer or client or, having given it, it does not
satisfied, he may go to the Consumer Defender, to deliver a copy of the request
presented and the response, if any, in order for the Ombudsman to order the investigation
corresponding and verify if the requested proceeds.
This, in no case, will prevent the consumer or client from acting first before the Ombudsman
of the Consumer.
Process
Article 24.- The Consumer Ombudsman, based on the request presented by the
consumer or client, will require a report from the economic agent and the data information agency
of what happened where it supports the reasons that motivated the provision of the reflected data, or
the reasons why you did not agree to the requested rectification, modification or cancellation request,
in case it has been given.
The Ombudsman's Office will present this requirement to the person in charge of the economic agent and
of data information, who will have a term of five business days, counted from the date
in which they receive the request, to respond and present the evidence they deem pertinent. If he
economic agent and / or the data information agency do not send the requested information, the Ombudsman's Office
must carry out the necessary administrative investigations at the premises of the economic agents
data providers or data information agencies, in order to obtain documentation
necessary to resolve the complaint or complaint presented.
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The Consumer Ombudsman must initiate the sanctioning administrative procedure, when
the economic agent or the data information agency, obstruct the information functions,
surveillance and inspection of the same, or refuse to provide data and information required in
fulfillment of such functions.
Resolution
Article 25.- The Consumer Ombudsman, based on the request presented by the
consumer or client, in the documentation collected, as well as in the response received from the agent
economic and / or data information agency, will issue a reasoned resolution within five
following business days.
Said resolution will contain a succinct account of the facts, based on the evidence.
that appear in the file and in the information provided, in which it will decide whether or not the
rectification, modification or cancellation of data, as well as the corresponding sanctions, in accordance
with this Law, and will order, if this is what is appropriate, the economic agent or the information agency
of data that rectifies, modifies or cancels the corresponding reference.
The resolution must be executed within five business days, counted from the day
following notification.
Article. 26.- In the event that the complaint is presented to the Superintendency of the
Financial System, the procedure established in the previous articles will apply in the pertinent and in
based on their legal powers.
Chapter VI
Infringements and sanctions
Types of Infractions
Article 27.- Violations of economic agents and information agencies of
data will be serious and very serious.
Serious Infractions
Article 28.- The following are serious offenses:
to)

Disregard consumer or customer requests for access, rectification, modification
or cancellation of personal data.

b)

Process consumer or credit customer databases or collect data
personal, with a different purpose than that established in the Law.

c)

Maintain Credit History information with outdated information.

d)

Handle the personal information of consumers or clients, for purposes other than
are related to the purpose for which they were collected, as established by the

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18

present Law.
and)

Keep consumer or customer information in unsafe places.

F)

Obstruct the exercise of the inspection function on the part of the competent authority.

g)

Incur in the prohibitions of article 19 of this Law.

h)

Access the database of an information agency of data on references of
credit without the prior, express and written authorization of the consumer or client to obtain
information about your credit history.

i)

Provide, maintain and transmit consumer or customer data other than
accurate or truthful.

j)

Failure to adopt technical measures or controls to avoid alteration, loss, treatment
or data access.

k)

Modify the data provided in the authorization documentation without communicating it
to the competent authority in the time established by this Law.

l)

Do not send the data information agency the update of the data within the
term established in this Law.

Very Serious Infractions
Article 29.- The following are very serious offenses:
to)

Altering data of consumers or credit customers;

b)

Failure to deliver, within the established period, the information requested by the Ombudsman's Office
Consumer with respect to the cases that enter this institution and that, by reason of
their competition, they must know;

c)

Obtain data in a fraudulent or misleading way;

d)

Failure to comply with the instructions determined by the competent authority, as the case may be,
in the breach of the functions indicated by this Law;

and)

Carry out defamatory or libelous collection efforts to the detriment of the debtor and his family,
as well as the use of physical or moral coercion measures for such purposes;

F)

Carry out some of the activities prohibited by this Law; Y,

g)

USE, TRANSFER, SHARE AND COMMERCIALIZE, IN DIFFERENT TERMS
TO THOSE ESTABLISHED IN THIS LAW, CONSUMER INFORMATION OR
CLIENTS, UNLESS IN EACH INDIVIDUAL CASE THE

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19

EXPRESS CONSENT OF THEM TO CARRY OUT SUCH ACTIVITIES. (1)

Sanctions
Article 30.- INFRACTIONS TO THIS LAW, WILL BE PUNISHED IN THE FOLLOWING WAY:
to)

SERIOUS VIOLATIONS WITH A FINE OF UP TO TWO HUNDRED MINIMUM WAGES
MONTHLY FOR THE COMMERCE AND SERVICES SECTOR, AND UP TO THREE HUNDRED WAGES
MONTHLY MINIMUM OF THE COMMERCE AND SERVICES SECTOR, IF THE AFFECTION IS TO
COLLECTIVE OR DIFFUSE INTERESTS; Y,

b)

VERY SERIOUS VIOLATIONS WITH A FINE OF UP TO FOUR HUNDRED WAGES
MONTHLY MINIMUM OF THE COMMERCE AND SERVICES SECTOR, AND UP TO FIVE HUNDRED
MINIMUM MONTHLY WAGES IN THE COMMERCE AND SERVICES SECTOR, IF THE
AFFECTION IS TO COLLECTIVE OR DIFFUSE INTERESTS.

THE AMOUNT OF THE SANCTIONS WILL BE IMPOSED ACCORDING TO THE PARAMETERS
FOLLOWING: SEVERITY OF THE INFRACTION, THE DAMAGE OR AMOUNT OF THE DAMAGES CAUSED, THE
DURATION OF THE INFRINGEMENT, AND THE ECONOMIC BENEFIT OBTAINED BY THE OFFENDER WITH THE
DONE; AS WELL AS THE CRITERIA ESTABLISHED IN THE FIRST SECTION OF ARTICLE
49 OF THE CONSUMER PROTECTION LAW.
THE PROCEDURE FOR THE APPLICATION OF SANCTIONS WILL BE IN ACCORDANCE WITH THE
ESTABLISHED IN THE CONSUMER PROTECTION LAW AND THE SUPERVISION AND REGULATION LAW
OF THE FINANCIAL SYSTEM, AS APPROPRIATE, WITHOUT IMPAIRMENT OF THE PROVISIONS IN THE ARTICLES
24 AND 25 OF THIS LAW.
THE CONSUMER OMBUDSMAN OR THE SUPERINTENDENCY OF THE FINANCIAL SYSTEM,
IT WILL PUNISH THE DISCOVERY OR DISOBEDIENCE TO THE RESOLUTIONS ISSUED WITH A FINE OF UP TO
FIVE HUNDRED MINIMUM MONTHLY WAGES IN THE COMMERCE AND SERVICES SECTOR.
IN ALL CASES, THE SANCTIONS IMPOSED MUST BE FOUNDED AND DETERMINED
IN THE RESPECTIVE SANCTIONING RESOLUTION. (two)
Suspension of Operations
Article 31.- In case of recidivism in very serious infractions, the suspension must be ordered
of the power to operate as a data information agency, for a period of no more than ninety days.
Cancellation of Operations
Article 32.- IN CASE OF REINCIDENT IN THE SUSPENSION OF OPERATIONS, OR NO
THE REASONS FOR WHICH IT WAS
SUSPENDED WITHIN THE PERIOD ESTABLISHED IN THE PREVIOUS ARTICLE, THE
CANCELLATION OF THE FACULTY TO OPERATE AS A DATA INFORMATION AGENCY. (1)

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twenty

SAFEGUARDING AND SEIZURE OF DATABASE (1)
Article 32-A.- IN CASES OF SUSPENSION OR CANCELLATION OF OPERATIONS,
RELATED TO THE AUTHORIZATION TO OPERATE AS A DATA INFORMATION AGENCY
ON THE CREDIT HISTORY OF THE PEOPLE, THE AGENCY FROM WHICH THEY ARE SUSPENDED OR
THE OPERATIONS CANCELED, YOU SHOULD, AT THE REQUEST OF THE SUPERINTENDENCY, DELIVER
TO THIS YOUR DATABASE FOR YOUR SAFEGUARDING, WITHIN A PERIOD OF THREE BUSINESS DAYS, COUNTED
FROM THE NOTIFICATION OF SUSPENSION OR CANCELLATION OF OPERATIONS. SAYING
PROCEDURE WILL BE DONE FOR THE PURPOSE OF CUSTODYING THE INFORMATION THAT IS PROPERTY
FROM CUSTOMERS OR CONSUMERS.
IF THE DATA INFORMATION AGENCIES DO NOT COMPLY WITH THE DEADLINE ESTABLISHED IN
THE PREVIOUS SECTION, THE SUPERINTENDENCY, WITH THE AID OF THE PUBLIC FORCE, WILL PROCEED,
WITHOUT FURTHER PROCESSING, WITHIN THE MAXIMUM PERIOD OF TWENTY-FOUR HOURS, TO THE SEIZURE OF
THE REFERRED DATABASES. THE DATA INFORMATION AGENCY WILL NOT BE ABLE TO KEEP
NO BACKUP, PHYSICAL OR VIRTUAL, OF THE DATABASE.
IN THE CASE OF SUSPENSION OF OPERATIONS, IF THE DATA INFORMATION AGENCY
OVERCOMES THE CAUSES THAT CAUSED THE SUSPENSION, THE SUPERINTENDENCY OF THE SYSTEM
FINANCIAL WILL PROCEED TO THE RETURN OF THE DATABASE WITHIN A TERM OF NO GREATER THAN FIVE
BUSINESS DAYS, COUNTED FROM THE DATE THAT THE CAUSES OF
SUSPENSION.
THE SUPERINTENDENCY SHALL GUARANTEE THE PROTECTION, CUSTODY AND ADEQUACY
STORAGE OF THE DATABASES, IN A PLACE AND FORM ACCORDING TO ITS INTERNAL MEASURES
INFORMATION SECURITY. THE SUPERINTENDENCY WILL NOT BE ABLE, UNDER ANY CIRCUMSTANCES,
ACCESS, MAKE USE OR REPRODUCE THE INFORMATION CONTAINED IN THE DATABASES THAT
SAFE OR CUSTODY. THE CENTRAL RESERVE BANK SHALL ESTABLISH, BY REGULATION
TECHNIQUE, THE PROCEDURE TO FOLLOW FOR SUCH EFFECTS.
IN CASE OF DEFINITIVE CANCELLATION, THE SAFEGUARDING AND CUSTODY OF THE DATABASES
BY THE SUPERINTENDENCY, IT WILL BE FOR A PERIOD OF UP TO TWELVE MONTHS; ONE TIME
AT THE END OF THIS PERIOD, YOU SHOULD PROCEED TO PERMANENT ELIMINATION OF THE INFORMATION
CONTAINED IN THE DATABASES. (1)
Chapter VII
Final Provisions
Adaptation to the Law
Article 33.- Legal persons that are dedicated to providing the information service on
credit history, they must adapt their activity and request their respective authorization in accordance with the
requirements of this Law, within a period of up to six months, counted from its entry into
validity.
Notwithstanding the foregoing, during the time established in the preceding paragraph, the
data information, which were already operating at the entry into force of this law, may continue
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twenty-one

providing their services.
Adequacy of Contractual Clauses
Article 34.- All those clauses contained in the contracts signed prior to
the validity of this Law and that contradict the provisions of the same, will be considered unwritten.
Deadlines
Article 35.- The terms established in this Law will be counted from the following day
of the notification or presentation of the application.
Alternative Dispute Resolution Means
Article 36.- In order to resolve conflicts between economic agents, the agencies of
credit information and consumers or clients, through alternative means of solving
controversies, the procedures established in Chapter II of Title IV of the Law may be used.
Consumer Protection.
Special Character of the Law
Article 37.- This law, due to its special nature, will prevail over any other provision
that contradicts it.
Regulations and Technical Standards
Article 38.- The competent authority will issue the applicable regulations and technical standards
of this Law, within a period of ninety days, counted from the effective date of this
Decree.
Repeal
Article 39.- All legal provisions that in any way
contradict or oppose this Law.
Validity
Article 40.- This Decree shall enter into force ninety days after its publication.
in the Official Gazette.
GIVEN IN THE BLUE ROOM OF THE LEGISLATIVE PALACE: San Salvador, on the 29th day
of the month of April of two thousand eleven.
NOTE: In compliance with the provisions of Art. 97, paragraph 3 of the Internal Regulations of this Body
of the State, it is stated that this Decree was returned with observations by the President of
the Republic, on May 23, 2011, resolving this Legislative Assembly to accept the majority of said
observations, in Plenary Session held on June 23, 2011.
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22

OTHON SIGFRIDO REYES MORALES,
PRESIDENT.
CIRO CRUZ ZEPEDA PEÑA,
FIRST VICE PRESIDENT.

GUILLERMO ANTONIO GALLEGOS NAVARRETE,
SECOND VICE PRESIDENT.

JOSÉ FRANCISCO MERINO LÓPEZ,
THIRD VICE PRESIDENT.

ALBERTO ARMANDO ROMERO RODRÍGUEZ,
FOURTH VICE PRESIDENT.
FRANCISCO ROBERTO LORENZANA DURAN,
FIFTH VICE PRESIDENT.

LORENA GUADALUPE PEÑA MENDOZA,
FIRST SECRETARY.

CESAR HUMBERTO GARCÍA AGUILERA,
SECOND SECRETARY.

ELIZARDO GONZÁLEZ LOVO,
THIRD SECRETARY.

ROBERTO JOSÉ d'AUBUISSON MUNGUÍA,
FOURTH SECRETARY.
IRMA LOURDES PALACIOS VÁSQUEZ,
SIXTH SECRETARY.

FIFTH SECRETARY.
MARIO ALBERTO TENORIO GUERRERO,
SEVENTH SECRETARY.

PRESIDENTIAL HOUSE: San Salvador, on the eleventh day of the month of July of the year two thousand eleven.
LET IT PUBLISH,
Carlos Mauricio Funes Cartagena,
Republic President.

DO No. 141
Volume No. 392
Date: July 27, 2011

Héctor Miguel Antonio Dada Hirezi,
Economy Minister.

ROM / ielp
08-25-2011

REFORMS:
(1)

DL No. 196, NOVEMBER 26, 2015,
DO No. 233, T. 409, DECEMBER 17, 2015.

(two)

DL No. 440, JULY 27, 2016,
DO No. 150, T. 412, AUGUST 17, 2016.

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UNCONSTITUTIONALITY:
* THE CONSTITUTIONAL CHAMBER OF THE SUPREME COURT OF JUSTICE, BY MEANS OF JUDGMENT No.
109-2013, PUBLISHED IN OJ No. 24, T. 410, OF FEBRUARY 4, 2016, DECLARES
UNCONSTITUTIONAL ART. 30, WHEREAS THE MINIMUM PENALTY AMOUNTS OF FINES
THAT IT PROVIDES LACK OF SUFFICIENT OBJECTIVE JUSTIFICATION IN RELATION TO THE PURPOSE
THAT SERVES THEM AS A FOUNDATION, WHICH, IN CONSEQUENCE, INVOLVES THE VULNERATION OF THE
SUB-PRINCIPLE OF SUITABILITY OF THE PRINCIPLE OF PROPORTIONALITY INHERENT TO THE RIGHT OF
PROPERTY –ARTS. 246 AND 2 CN-; TO ALLOW THE LEGISLATOR TO CORRECT IN THE SHORT TERM THE
UNCONSTITUTIONALITY ADVISED, THE MINIMUM PENALTY AMOUNTS WILL CONTINUE
VALID FOR A PERIOD OF SIX MONTHS FROM NOTIFICATION OF THIS JUDGMENT;
BE DECLARED UNCONSTITUTIONAL IN A GENERAL AND COMPULSORY WAY, THE SECOND PART OF THE LETTER
A DEL INC. 1 OF ART. 30, WHEREAS THE RATING AS A VERY SERIOUS VIOLATION OF THE
RECURRENCE OF A SERIOUS INFRACTION REGULATING SUCH PROVISION INVOLVES THE
TRANSGRESSION OF THE NE BIS IN IDEM PRINCIPLE ESTABLISHED IN ART. 11 INC. FINAL PART OF THE
CN., WHEN IT IS A PENALTY THAT HAS SUBJECTIVE, FACTUAL AND FOUNDATIONAL IDENTITY
REGARDING PRIOR SANCTIONS IMPOSED FOR SERIOUS INFRACTIONS PURSUANT TO SAID
LAW. (JQ / 10/03/16)
* Art. 30 was subsequently amended by DL No. 440/2016.

SP
01/26/16
JQ
03/10/16
SV
09/06/16

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2. 3

