President Piñera presides over the enactment of the Credit Rating Law (Dicom): “This will make a great difference to the lives of over 4 million Chilean men and women”
The President of Chile congratulated “the congressmen who created the bill and those who enthusiastically and whole-heartedly supported the bill which today enters into effect as a Law of the Republic of Chile.”
He added that this law gives the beneficiaries “not only better opportunities in terms of access to employment, healthcare and education, but also the chance to make a fresh start in the working world.”
This morning at La Moneda Palace the President of Chile, Sebastián Piñera, along with the Economy, Development and Tourism Minister, Pablo Longueira, presided over the enactment of the law that establishes the principle of purpose in the processing of personal data.
The President emphasized that “personal credit rating information can only be used or requested by recognized financial institutions for the purpose of evaluating eligibility for loans. This personal information cannot be used to exclude or impede access to work, educational establishments or healthcare.”
Similarly, he announced that this law “will make a great difference to the lives of over 4 million Chilean men and women who will not only have better opportunities in terms of access to employment, healthcare and education, but also the chance to make a fresh start in the working world.”
Furthermore, he stated that “as a one-off, all debts prior to December 31, 2011 of less than 2.5 million Chilean pesos (approximately US$5,200), not including interests or readjustments, have been removed from the Dicom credit rating register.”
He took the opportunity to congratulate “the congressmen who created the bill and those who enthusiastically and whole-heartedly supported the bill which today enters into effect as a Law of the Republic of Chile.”
He also referred to other government initiatives that are aimed at treating consumers, members of society and workers more fairly and with greater respect, such as the law to set up the financial consumer protection agency Sernac Financiero, the Phone Number Portability Scheme and the law that gives start-up businesses a second chance if their first or second attempts have been unsuccessful. “None of this is incidental, these are the fruits of an honest, hard-working society and of a government that is committed to honest hard work and to improving the quality of life for everyone in Chile,” stated the President.
Finally, President Piñera said “to the millions of Chileans who as of last Friday have been given a second chance, you deserve this opportunity and I hope you will make the most of it.”