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Paraguay: Bill on personal credit data enacted
Bill No. 6534/2020 on the Protection of Personal Credit Data was enacted, on 28 October 2020, and published in the Official Gazzette. In particular, the Personal Credit Data Law establishes new defintions of personal data including sensitive personal data and credit information data, creates new obligations around said data including data security obligations for organisations who process personal credit data as well as expanded data subject rights of access, rectification, correction, objection, and the right for credit data to be forgotten. Furthermore, the Personal Credit Data Law contains secrecy requirements and disclosure prohibitions for organisations that process personal credit data. Finally, the Personal Credit Law stipulates the Central Bank of Paraguay and the Secretariat of Defense of the Consumer and the User as the relevant competent authorities who have the power to, among other things, revoke licences, initiate investigations, and issue sanctions.
You can read the Personal Credit Data Law here.
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