Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Research supports calls to broaden credit reporting regime

Staff Reporter 1 minute read

Research released by Veda Advantage yesterday found that 1.9 million Australians with good credit histories have been denied credit because of the current reporting system.

According to Veda Advantage general manager of information, services and solutions Erica Hughes, the Federal Government needs to broaden the credit reporting regime – which is currently under review by the Australian Law Reform Commission – so that borrowers and lenders can have access to the best information, including current amount owed and payment history.

“As Australia enters a tightening credit cycle, lenders need access to the best information in order to manage credit risk and help protect potential borrowers. We are calling on the Government to change the [privacy] law as a matter of urgency,” said Hughes.

Research supports calls to broaden credit reporting regime
default
TheAdviser logo
default

 

more from the adviser
parliament Proposed BID extension delayed

The Treasurer has told The Adviser that government will delay fi...

house sold Victorian home buyers make a comeback

Mortgage commitments for owner-occupiers in Melbourne surged in N...

warning Home owners scammed by ‘ruthless criminals’

The WA government has issued a warning surrounding a new scam tha...

FROM THE WEB