How to change RGB colors in Git Bash for windows?

This works for me to change the text colors used by Git Bash on Windows 7:

• Click on the upper left corner of an open Git Bash window (the Git icon in the window frame).
• A menu appears (the same that would appear with a regular DOS cmd Window). Choose the last entry: "Properties", UPDATE 2021: "Options..." (thanks AlexD!)
• Go to tab "Colors"
• Choose radio button "Screen Text"
• Remember which color is currently assigned to "Screen Text" in the row of small color boxes (it has a black frame).
• Then select the color you want to change by clicking on the corresponding color box. This color is now assigned as "Screen Text", which is what Git Bash uses for regular text. But don't worry, this change is only temporary and needed to modify the value of a color.
• Now change the Red/Green/Blue values for the selected color. In my case I wanted to make the fifth color from the left (much) brighter. Let's call it "Color 5". This is the color Git Bash uses to show changed files with "git status". Whenever Git Bash wants to use "Color 5" it will use the new RGB value.
• "Screen Text" is now still set to "Color 5". So click on the original color that you have remembered.

The changes made in this way are permanent but only valid for the shortcut you have used to start Git Bash. If you create a new shortcut you are back to the original colors.

If you are using the git-bash command prompt check if you have the file: %USERPROFILE%\.minttyrc
In that file you can fine tune the RGB values of the console colors in this way:

BoldBlack=128,128,128
Red=255,64,40
BoldRed=255,128,64
Green=64,200,64
BoldGreen=64,255,64
Yellow=190,190,0
BoldYellow=255,255,64
Blue=0,128,255
BoldBlue=128,160,255
Magenta=200,64,255
BoldMagenta=255,128,255
Cyan=64,190,190
BoldCyan=128,255,255
White=200,200,200
BoldWhite=255,255,255