Amendments to privacy legislation

Amendments to privacy legislation regulating credit reporting passed Federal Parliament late last year.  While the reforms won’t come into effect until March 2014, lenders can already begin collecting “repayment history information”, which includes whether someone has paid or missed a consumer credit payment. Lenders can only provide this information to credit reporting agencies from March 2014, at which time it will be included in credit reports.

The Office of Australian Information Commissioner’s fact sheet explaining the changes is available here.

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