Credit Reporting Bill 2012

Public bill · Government · Presented

The Credit Reporting Bill 2012 would establish a Central Credit Register run by the Central Bank, recording significant credit applications, loans, guarantees, repayments and defaults. Lenders would have to provide and check information, consult the Register when assessing larger loan applications, and use the data only for permitted credit-related purposes. Individuals could see their records, challenge errors, add a short explanation, and flag suspected identity theft; the Bill would also set retention periods, protect confidentiality and impose penalties for misuse.

Formal long title

Bill entitled an Act to make provision for the establishment, maintenance and operation of a Central Credit Register for the holding of information about credit applications and credit agreements and parties to them; to make provision about the information to be provided for entry on the Register; to make provision for access to the information held on the Register for the assessment of creditworthiness and other purposes; to impose duties on parties to credit agreements; and to make provision for related matters

Last updated 12 April 2018