ANZ Dashboard Digest

Commissioner Announces Credit Code Changes

PRIVACY LAW—HONG KONG

April 1, 2011

Hong Kong's privacy commissioner has announced three amendments to the code protecting consumer credit data. The first set of amendments will take effect 1 April and relate to expanded mortgage data sharing among credit providers to facilitate comprehensive credit assessments. Privacy Commissioner for Personal Data Allan Chiang will release a fact sheet on the amendments to help the general public understand the changes. The second set of amendments require credit providers to update credit reference agency databases no later than 14 days after a request for a change is made and prevent data on gender from being collected, effective 1 July. The third set of amendments apply to bankruptcy-related data retention.
Full Story