Article: New Law Undermines Thai Credit Bureau.

By Darana Chudasri, Bangkok Post, Thailand Knight Ridder/Tribune Business News

Feb. 18--A new credit card law to protect consumers to come into effect on March 14 could undermine the effectiveness of credit bureaus and efforts to strengthen credit discipline, according to the president of the Thai Credit Bureau.

Chompunute Sumanaseni said the new law, which calls for jail sentences of five to 10 years for financial institutions that violate certain disclosure rules on customer information, had made credit bureau members reluctant to submit new information to the bureau.

"For instance, one member basically said that they would stop ...

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