ADVOKS GLOBAL · KENYA
The Banking (Credit Reference Bureau) Regulations
26. Duty to notify customer of furnishing of negative information to bureau
Edition: 2022-12-31 · In force
26. Duty to notify customer of furnishing of negative information to bureau
(1)A credit information provider who furnishes negative information to a bureau with respect to a customer shall, in writing or through electronic means, notify the customer of the intention to submit the negative information at least thirty days before submitting the negative information to the bureau or within such shorter period as the contract between the credit information provider and the customer may provide.(2)The provisions of paragraph (1) shall not be mandatory with respect to the furnishing of positive information of a customer to a bureau by a credit information provider.(3)A credit information provider shall not furnish any information relating to a customer to any bureau if the credit information provider knows or has reasonable cause to believe that the information is inaccurate.(4)A credit information provider shall not furnish information relating to a customer to any bureau if the credit information provider has been notified by the customer, in writing or verbally, at the address specified by the credit information provider for such notices, that the specific information is inaccurate.(5)Despite paragraph (4), the credit information provider may submit the credit information to a bureau once it has addressed the customer's concern on the inaccuracy of the credit information —(a)by re-affirming the accuracy of the information to the customer; or(b)by rectifying the inaccuracy.(6)Where the credit information provider has been notified of any inaccuracy in the credit information and there is reasonable cause to believe that the information may not be accurate, the credit information provider shall inform all the bureaus to which the information has already been submitted of this fact within five days from the date of the notification and shall, within fourteen days, carry out investigations and inform the bureaus of the outcome of the investigation.(7)A credit information provider shall —(a)correct any inaccurate or erroneous information when the inaccuracy or erroneousness of information comes to the credit information provider's knowledge or attention; and(b)notify the bureaus within five days from the date of learning of the inaccurate or erroneous information.(8)A bureau that has been notified under paragraph (7) of inaccurate or erroneous information shall update its database within two working days of the date of the notification.(9)A credit information provider who has furnished credit information to a bureau shall, within thirty days from the date the information was furnished to a bureau, notify the customer that the customer's credit information has been forwarded to the bureau.(10)A credit information provider which intentionally, recklessly or negligently submits inaccurate information to a bureau or which, after being notified by a customer, does not adequately address the inaccuracy or erroneousness of information submitted or to be submitted to a bureau, shall be barred by the Central Bank or the relevant bureau from submitting credit information to that bureau or any other bureau.