Credit reporting could cause problems

The Citizens Advice Bureau is ”deeply concerned” about a proposal for more comprehensive credit reporting which would result in both positive and negative information about a person’s debt position being collected.

The organisation was the sole dissenting voice at the first of the submissions hearings yesterday before the Privacy Commissioner, who is proposing an amendment to the Credit Reporting Privacy Code 2004.

The other submitters in Auckland yesterday largely supported the proposed changes which would allow the ongoing reporting of repayment history, such as whether monthly credit card or mortgage payments are made on time.

This will complete the set of amendments permitting more comprehensive credit reporting by credit agencies.

 

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