Mandatory Comprehensive Credit Reporting Regulations
The submission to the Treasury in response to the Exposure Draft of the National Consumer Credit Protection Amendment (Mandatory Credit Reporting) Regulations 2020 was prepared by the Privacy Law Committee of the Business Law Section of the Law Council of Australia.
The Regulations are welcome in that they help address a gap in the law exposed by the relationship between hardship and repayment history information, specifically that the Privacy Act 1988 (Cth), as amended by the Privacy Amendment (Enhancing Privacy Protection) Act 2012 (Cth) did not expressly provide for the inclusion of hardship information in the credit reporting system.
You can read the full submission below.
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