MOSCOW, Dec. 2 (UPI) -- The Russian State Duma passed the pending credit history bill on its second reading Thursday, Interfax news agency reported.
The bill would lay out the rules for creating, storing and using credit history information and how credit bureaus are to operate, Interfax said.
Amendments also passed Thursday stipulate that the share or sum of a stake in a credit history bureau's capital by a person or persons affiliated with it may not top 50 percent as opposed to the earlier proposed and unsupported 10 percent or 20 percent, Interfax said.
The Russian government does not have an objection in principle to the amendment restricting capital participation, presidential aide Igor Shuvalov said, despite the negative reactions from some banking community representatives, particularly the Association of Russian Banks, according to the Interfax report.
The bill contains principles for interaction between a credit history bureau and borrower, state agencies, local administrations and the Central Bank, the news agency said. It stipulates that the basic credit history for a private individual should contain, if available, his/her place of registration and residence, debts and repayment schedule, among other data, Interfax said.
