Consumer rights protection activists suggest bank clients to request a reference from a commercial bank on annulling the loan account after the loan agreement expiration. Otherwise, there are risks that personal information of bank clients may be used on legal grounds.
Commercial banks are banned to have access to client’s personal information at other commercial banks only after a loan account abolition, otherwise, any commercial bank has a legal ground to request personal information about a client from other commercial banks. The same situation arises after replenishing a credit card, in case of unclosed account, when the bank offers a client to close the annulled card account within a month for calculation of Dormancy percentage.
To regulate and prevent similar uncleanness between the borrower and the lender, as well as for detailed determination of loan conditions, commercial banks will be instructed at National Bank of Georgia (NBG) next week.
It will be specified whether this base will comprise money transfers, leasing fee, and other incomes unregistered in bank channels.
NBG vice president Murtaz Kikoria will meet with representatives of commercial banks and their lobbies after his spring leave period to agree final version of legislative amendments. Moreover, presumable period for access to tax incomes will be also determined.
According to new amendments, CreditInfo database will be expanded and all lending bodies will be obliged to become the database member to register crediting risks.