ANZ Dashboard Digest

Shroff Holds Hearing on Proposed Credit Reporting Changes

PRIVACY LAW—NEW ZEALAND

July 15, 2011

Privacy Commissioner Marie Shroff has opened a hearing to get feedback on proposed changes to the privacy code that would give credit lenders access to 24 months of customers' financial history. Radio New Zealand reports that credit reporting agency Dun and Bradstreet and the Federation of Family Budgeting Services think this would be a good change. Federation Chief Executive Raewyn Fox says that under the current system, many are penalised for one-time occurrences, such as a marriage separation. According to the report, Shroff says it is "feasible to change the code to benefit individuals, the community, the economy and financial services industry."
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