LGPD principles applied to the credit market

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The credit protection service databases, Data protection organizations around the world have been set up to process personal and company data. For this purpose, in harmony with the principles of the Consumer Protection Code (CDC), which dates back to 1990, and the Positive Registry Law, which dates back to 2011, the sector has always been committed to promoting the proper processing of data even before the law was passed. LGPD. And with the law coming into force, it was only natural that it was already committed to the principles set out in Article 6 of the LGPD, among which is good faith in data processing. In the bureaus' view, having legislation that regulates the processing of personal data allows the sector - and society as a whole - to function better.

Of the ten principles listed in article six of the LGPD, which are: responsibility and accountability; non-discrimination; free access; transparency; security; prevention; data quality; purpose; adequacy; and necessity, I will emphasize in this article the principles of free access and transparency applied to the credit market.

According to principle of open access, In the credit protection market, free access means that data subjects have the right to consult information about themselves, free of charge and in a simple way. In the credit protection market, free access means providing data subjects with free and easy access to their personal data. To this end, the bureaus may have communication channels with data subjects to ensure that they have access to the personal data stored about them by the bureaus and are aware of how it is being processed.

The principle of transparency, This, in turn, guarantees data subjects clear, precise and easily accessible information about the processing carried out and the respective processing agents, with due regard for commercial and industrial secrets. They also have the right to know for what purposes this information will be used. To do this, data subjects can use the service channels or even consult the bureaux' websites.

Regulatory issues

The LGPD came into force without the National Authority for the Protection of Personal Data (ANPD) was up and running. From the point of view of the bureau sector, the ANPD, as well as maintaining the balance between the protection of personal data subjects and economic and social development, is important because the LGPD has provisions that need regulation or guidance from the competent Authority. Without the strategic and educational guidance of this Authority, the multiple interpretations of other public spheres will tend to cause legal uncertainty and thousands of lawsuits, which could be resolved in most cases by prior instructions and guidance from the ANPD. ANPD.

At the same time, the implementation and standardization of the LGPD in the country must take place in an orchestrated fashion, under the coordination of the ANPD, and as a result of a broad process of public consultations and regulatory and economic impact analyses, avoiding monocratic and one-off decisions. The organized private sector suggests the regulatory debate and proposes to collaborate actively in drawing up guidelines, regulatory guidelines and educational work. Dialogue with the government and other organized sectors is and will continue to be a priority for the private sector in the search for the best results for society by sharing best practices.