Easier Access to Bank and Credit Union Data in Bankruptcy and Restructuring
This new law simplifies access to bank and credit union account information for officials managing bankruptcy and restructuring proceedings. Trustees and court supervisors will now be able to act more quickly and effectively in cases involving indebted companies and individuals. Citizens facing financial difficulties should be aware of increased transparency regarding their finances towards judicial authorities.
Key points
Banks and credit unions will be required to provide account data to trustees and supervisors in bankruptcy and restructuring cases.
This will facilitate the management of debtors' assets and accelerate debt relief processes.
Financial institutions will also be obliged to report the opening of restructuring proceedings.
60%
VOTING RESULTS
2025-07-09
For
260
Against
0
Abstain
176
Status:
Enacted
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