Have your say: Review of Credit Reference Agencies.

James

This affects us all.

The Financial Conduct Authority is looking at the Credit Reference. The Credit Information Management Study (CIMS)

We, as consumers can have an input, closing date 24 February.

Links: 

Credit Industry Management Study Interim Report & Discussion Paper

Potential remedies of above report

Important for Consumers:

Freezing Your Credit File. (Remedy: streamlining)

Adding a Notice of Correction (NoC). (Remedy: streamlining)

Most welcome (at last).

However:

Your can Freeze your file already by using the NoC facility, but you have to write/email all 3 agencies.

Nothing is mentioned of Password Protecting your file (as suggested by the agencies) OR

using the proactive MyPas system to prevent Identity Theft.

All 3 methods should, in my opinion  be streamlined (for consumer ease of use), and considered critical data. To protect us, this could and should be the first thing creditors view when carrying out a hard search.

I call on the Credit Reference Agencies to make it so.

 

 

 

 

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MorningcoffeeIV

Thank you Captain Picard.