meta_id 3381326

On August 4, 2026, Colombia's Financial Regulation Unit approved Decree 0977, which modifies Decree 2555 of 2010 to establish a comprehensive financial portability framework. The decree implements Article 94 of Law 2294 of 2023 (National Development Plan), which grants financial consumers the right to transfer financial products between entities supervised by the Financial Superintendency of Colombia (Superintendencia Financiera de Colombia). The financial portability scheme applies exclusively to credit products across three categories: Commercial portfolio credits (excluding rediscounted credits). Consumer portfolio credits. Mortgage portfolio credits (including residential leasing). The framework establishes that financial consumers may request product transfers at any time, accompanied by associated transactional information and a portability certificate. The decree emphasises that portability must be free of charge to consumers, with no additional costs, sanctions, or negative reporting. Participating entities must implement interoperable mechanisms, provide secure and standardised access to necessary information, and refrain from imposing technical, contractual, or administrative barriers that obstruct portability. The procedure establishes specific timelines: destination entities must request portability certificates within three business days and communicate their decision within five calendar days for standard products, or thirty calendar days for products backed by payroll deductions or registered guarantees. Consumers have five business days to accept or reject portability offers. The Financial Superintendency of Colombia must publish standardisation standards within twenty-four months of the decree's entry into force and include the portability scheme within its standardisation timeline within two months. Participating entities must enable access to portability certificate information within twelve months, with a possible six-month extension. The decree enters into force the day after its publication in the official gazette.