Banco Itaú Chile, Banco Falabella, and Promotora CMR Falabella S.A. received fines for including persons who were not debtors on information periodically sent to the CMF for its Registry of Debtors.
The Commission's Registry of Debtors is the basis for its Debt Report, which shows an individual or legal entity's indebtedness to financial institutions supervised by the CMF.
The Board of the Financial Market Commission (CMF) sanctioned Banco Itaú Chile, Banco Falabella, and Promotora CMR Falabella S.A. with UF 4,300 in total fines for grave and reiterated infringements on their Registry of Debtors data regularly submitted to the Commission.
Per Exempt Resolutions Nos.7,400, 7,401 and 7,402, these entities violated the dispositions of Numbers 2 and 5 of Chapter 18-5 of the Commission's Updated Compilation of Rules for Banks, which are related to Article 14 of the General Banking Act; and Articles 255, 268 and 281 of Law No. 20,720 on the reorganization and liquidation of companies and individuals. Specifically, they included on their lists persons who did not qualify as debtors, which might affect their access to financial products and services. Data contained in the Registry of Debtors is used by financial institutions to assess their granting of loans.
The sanctions are as follows:
- Banco Itaú Chile: UF 1,800.
- Banco Falabella: UF 1,000.
- Promotora CMR Falabella: UF, 1500.
The violated regulations mentioned earlier aim to protect the integrity of debtors' information, ensuring its reliability and use in correct assessments on the access of clients to financial products. Said data is also used to compile the CMF's Debt Report, which shows an individual or legal entity's indebtedness to financial institutions supervised by the CMF.
The Debt Report is available in person at the Commission's offices or through remote channels. Over 4.7 million Reports were issued last year.
