Law 2300 of 2023

By: María Fernanda González

Law 2300 of 2023, which establishes measures to protect consumers’ right to privacy, such as the channels, times, and frequency with which they may be contacted, was enacted on July 10, 2023, and, as stated in Article 10, will enter into force three (3) months after its enactment, that is, on October 10, 2023.

Although the initial bill was aimed exclusively at protecting financial consumers and applying to financial institutions supervised by the Financial Superintendency of Colombia, the text underwent modifications during the legislative process, and the law that was finally approved and enacted extended the protection of the right to privacy to consumers in general, and its application not only to entities supervised by the Financial Superintendency, but to all individuals and legal entities that carry out collection activities directly, through third parties, or by assignment of the obligation.

Unlike the Consumer Protection Statute, which includes a definition of “Consumer” that excludes entrepreneurs when they purchase products to satisfy their business needs intrinsically linked to their economic activity, Law 2300 does not include any definition of “Consumer” or “Commercial Consumer” that would limit the scope of application of its provisions in this case.    Nor does Law 2300 require that the natural or legal person carrying out the collection management do so professionally or as part of their economic activity. On the contrary, everything indicates that the rule is generally aimed at any natural or legal person who carries out any collection management or activity directly or through third parties, or by assignment of the obligation.

Consequently, in principle and unless otherwise regulated, any natural or legal person who carries out debt collection, even if this is not their economic activity, will be obliged to comply with the provisions of Law 2300 of 2023 as of October 10, 2023, the date on which the law comes into force.