ARCA submits amended application to vary Credit Reporting Code
The National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021 was passed in February 2021 and provided for a new form of ‘financial hardship information’ to be included in the credit reporting system from 1 July 2022. The law also made other changes, including allowance for ‘non-participating credit providers’ and a requirement for credit reporting bodies to give individuals their ‘credit rating’.
We have submitted an amended application to vary the CR Code to the Office of the Australian Information Commissioner. The amended application follows engagement with the OAIC and other stakeholders. For more information and a copy of the application, get in touch or visit the OAIC website