Changes to Credit Reporting Regulation Include Privacy Controls
FINANCIAL PRIVACY—NEW ZEALANDDecember 16, 2010
New Zealand Privacy Commissioner Marie Shroff has announced key changes to credit reporting regulation. The changes brought by Amendment No. 4 will let credit reporters collect and use more information about people and will allow for the use of consumers' driver's license numbers for credit matching purposes. Privacy Commissioner Marie Shroff thinks the changes will "bring substantial benefits to individuals," but notes that the more comprehensive reporting also means more intrusion into people's financial lives. "Given the substantial increase in sensitive financial information that will become available to third parties...Amendment No. 4 also has strong new controls to protect privacy," Commissioner Shroff said in a press release.