Colombia SFC issues Circular 007 after quake

The Superintendence of Finance of Colombia issued External Circular 007 on Aug. 26, 2026, to reduce the impact of the disaster situation on affected financial consumers. The directive applies to all supervised entities and falls under the agency's prudential supervision and financial consumer protection duties.

What does External Circular 007 require?

The circular requires credit institutions to clearly and prominently publish the requirements, validity periods, scope and effects of temporary relief programs on their websites, at physical branches and in mobile apps. It also sets limits on the refinancing of affected loans, since the new term cannot exceed twice the remaining original term or go beyond 20 years, according to El Colombiano.

As part of the operational response to the disaster, financial institutions must also set up dedicated phone lines and service points for complaints and claims from affected customers, preferably in person in the impacted areas. The Superintendence also strengthened expedited handling through Letter Circular 54 of 2026, reminding supervised entities of their obligation to apply the Express Complaints procedure.

How does it fit into the new supervisory agenda?

The regulatory package arrives as Pablo Andrés Rivas Herazo takes over at the Superintendence of Finance, after being sworn in on Aug. 26, 2026 by the minister of finance and public credit. The agency said its supervisory agenda includes emerging risk management, cyber resilience, climate risk and the assessment of new technologies for Colombia's financial system.

The institutional transition was also formalized through Decree 1292 of 2026, which accepted the resignation of César Attilio Ferrari Quine and appointed Rivas Herazo to the post. At the same time, the Superintendence published the guide Abecé del seguro, Terremoto 2026, to help the public understand policies and claims procedures.

What is happening in the digital financial ecosystem?

Colombia's regulatory debate is also being shaped by pressure on fintech firms and by banks' growing investment in cybersecurity. At Asobancaria's 60th Banking Convention, the sector reported that spending on digital transformation, innovation and cybersecurity rose 9 percent, from 3.3 trillion pesos in 2024 to 3.6 trillion in 2025, with a focus on technology platforms and specialized outsourced services.

At that same event, Indra Group presented an artificial intelligence-based strategy to anticipate and manage financial fraud and reinforce payment infrastructure security. The company also warned about the rise of digital fraud in Colombian banking and proposed a 360-degree model that combines security and fraud data to detect links between events that might otherwise go unnoticed.

Outside the Superintendence of Finance's scope, specialists cited in an analysis of financial regulations said Superintendence of Industry and Commerce Circular 001 of 2025 strengthened personal data protection rules for the fintech sector. According to that analysis, companies must obtain separate consent depending on how the data will be used, apply stricter protections to biometric information and explain any automated decision to the user.

The same material said fintech companies supervised by the Superintendence of Finance are subject to the Financial Consumer Statute, while those that are not supervised fall under the general Consumer Statute overseen by the SIC, creating two protection regimes in the digital ecosystem. Sector analysts cited in another republished special added that gaps remain in the ability to audit AI systems that process personal data and in the effective oversight of automated decisions.

In the context of the earthquake emergency, the SIC also banned unjustified price increases and misleading advertising that takes advantage of the situation. That decision indirectly affects financial service providers and fintech firms offering products tied to crisis response.

What is Circular 007 from the Superintendence of Finance?

External Circular 007 was issued by the Superintendence of Finance of Colombia on Aug. 26, 2026, to reduce the impact of the disaster situation on affected financial consumers. The directive applies to all supervised entities and focuses on relief measures, complaint handling and prudential supervision.

The measure requires credit institutions to publish information about the requirements, validity periods, scope and effects of temporary relief programs across their channels. It also sets limits on refinancing affected loans and reinforces expedited handling through Letter Circular 54 of 2026 and the Express Complaints procedure.