Jul 202009
 
 July 20, 2009  Posted by  Govt, Laws, Non-U.S.

Credit-reporting firms are pushing for a privacy law change to collect more information on New Zealanders seeking finance.

The privacy commissioner’s office is reviewing the proposal as part of a wider review of credit reporting in New Zealand, but an academic says it could force more Kiwis to turn to loan sharks for finance.

Credit-reporting firms use information such as how often a person has applied for credit and whether they have defaulted to generate reports on an applicant’s credit-worthiness.

The law change would allow them to collect more information, such as how many accounts people have and their credit limits.

Read more on The Southland Times.

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