CCR, transparency and consumer protection

Central Credit Register

The Central Credit Register (CCR) is a public service offered by the Banco de España which manages a database that includes practically all loans, credit, guarantees and risks in general that financial institutions have with their customers.

Credit institutions record their credit risks and information concerning their debtor customers, such as their names, their tax identification number and the amount they owe at the end of each month, in the CCR.

Credit institutions can use the CCR to find out the level of debt a person or company has when they are assessing whether to approve a credit transaction.

Transparency and customer protection

In order to protect the legitimate interests of customers with credit institutions, Ley 10/2014 article 5Opens in new window entitles the Minister of Economic Affairs and Competitiveness to establish certain obligations in contractual relationships, to require notification of the basic conditions governing operations and to regulate certain aspects of their advertising.

Credit institutions therefore comply with different standards concerning transparency  in operations, customer protection and other general consumer protection issues.