This consultation process has now been completed. Submissions available
Date
07 February 2018
- 23 February 2018
Consultation Type
Draft Legislation
Key Documents
The Government announced on 2 November 2017 that it would legislate for a mandatory comprehensive credit reporting regime to come into effect by 1 July 2018, requiring the big four banks to participate fully in the credit reporting system.
This measure will give lenders access to a deeper, richer set of data enabling them to better assess a borrower’s true credit position and their ability to pay a loan.
The Government is seeking views on the exposure draft legislation and accompanying explanatory materials, which implements this measure.
