On Oct. 10, 2024, RUS CB issued ord 6778-U amending regulation 743-P and regulation 770-P.Ord 743 on the criteria for recognizing a credit bureau as qualified, the procedure for recognizing a credit bureau as qualified and making a decision on recognizing a credit bureau as having lost its qualified status in force Mar, 1, 2025.
On Apr. 16, RUS CB proposed updates to credit history bureau rules.
RUS CB proposed ordinance amending regulation 743-P and regulation 770-P.
Ord 743 on the criteria for recognizing a credit bureau as qualified, the procedure for recognizing a credit bureau as qualified and making a decision on recognizing a credit bureau as having lost its qualified status.
Ord 770-P on the requirements for the internal control system, risk management system and ensuring the continuity of the activities of credit history bureaus.
Consultation documents are only available on RUS CB website until comment deadline.
The ordinance's objective is to improve the quality of services provided by credit bureaus and reduce the risks of incorrect (distorted) information in credit histories.
Effectiveness
Comments and feedback are expected by May 1, 2024 and the planned date of entry into force is on Mar. 1, 2025.
Oct. 2024 Ord Issued
On Oct. 10, 2024, RUS CB issued ord 6778-U amending regulation 743-P and regulation 770-P.Ord 743 on the criteria for recognizing a credit bureau as qualified, the procedure for recognizing a credit bureau as qualified and making a decision on recognizing a credit bureau as having lost its qualified status in force Mar, 1, 2025.
