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Consumer Credit Reporting

Consumer Education: Credit Reports ≠ Credit Scores

Consumer education should be an important function for lenders, credit grantors and credit reporting companies says the credit scoring firm FICO in its recent Bankinganalyticsblog.  It is too important to be left to the press and other sources as the following article explains. More than ever, consumers are interested in their credit scores and credit reports.  They ask questions when banking, ... Read More »

World Bank Issues General Principles for Credit Reporting

The World Bank, in collaboration with the Bank for International Settlements (BIS), the IFC (International Finance Corporation), various central banks and members of the information industry represented by ACCIS (Europe), BIIA (Asia Pacific), CDIA (USA) and the Latin American Credit Reporting Association, has been working on developing universal standards for credit reporting.  Following a six months consultative period the World ... Read More »

India: Micro-finance Institutions (MFIs) Agree on Common Code of Conduct

Indian Micro-finance institutions under the auspices of Sa-Dhan (Association of Community Development), finance institutions and MFIN (Micro-finance Institutions Network) have released a code of conduct which would enable them to put up a joint front to promote and protect the industry. The code of conduct centers on the premise that MFIs seek to avoid the over-indebtedness of clients MFIs must ... Read More »

General Principles for Credit Reporting (Consultative Report)

In 2009 the World Bank, with support from the Bank for International Settlements assembled a Task Force to work on credit information standards Task Force members came from Central banks (including PBC) financ.ial and privacy regulators, multilateral organizations involved in credit reporting and international credit reporting associations such as BIIA. The World Bank Task Force published its recommendations in March ... Read More »

Teach Your Children the Importance of Good Credit

FICO has some good tips for parents and young people who are going to College in the USA, however these tips may apply in other countries as well! The combination of skyrocketing college expenses and access to credit has made it more important than ever for parents to teach their teens about financial management. It’s become as big a parental ... Read More »

CRIF / EFMA European Survey Examines Strategies on Responsible Lending

CRIF and EFMA conducted a survey which examines the strategies put in place over the last year by lenders in 16 European countries in reaction to the economic crisis, to counteract over indebtedness among retail customers, and pursue an approach based on responsible lending. The CRIF/EFMA report also looks at regional variations of the implementation of the EU Consumer Credit ... Read More »

Equifax Adds Lost Wallet Assistance to Its Credit Monitoring and Identity Protection Product

Equifax (NYSE: EFX), a leading provider of credit information and identity protection solutions announced the addition of lost wallet assistance to its consumer credit monitoring and identity protection product Equifax Complete Premier Plan™.   The new feature provides consumers with around-the-clock access to a team of identity theft specialists who can assist them with completing the necessary steps to restore the ... Read More »

Australian Risk Climate: Consumers struggle to manage debt burden

 One in three Australians will struggle to meet credit commitments in the September quarter Almost one third of Australians will struggle to meet their credit commitments in the September quarter, and 37 percent intend to use their credit card to purchase something they could otherwise not afford. Twenty-one percent say their household debt will increase over the next three months, ... Read More »

Responsible Lending and Borrowing: The Role of the Consumer Credit Information Industry

The Association of Consumer Credit Information Suppliers (ACCIS) devoted its entire annual conference (June 2011) to the topic of Responsible Lending and Borrowing: The Role of the Consumer Credit Information Industry.   Association members discussed intensively the need to work with consumers (data subjects) and regulators to create greater awareness of the role of the consumer credit bureau industry in the ... Read More »

US Credit Report Quality: Vast Amount is Accurate According to PERC Study

US consumers can rest easier if they are concerned that there is a likelihood that errors in their credit reports are negatively affecting their credit worthiness, a new study released by the Policy and Economic Research Council (PERC) shows. Conducted under rigorous peer review, the PERC research is the most comprehensive and statistically sound study to ever be performed on ... Read More »

European Data Protection: ACCIS Responds to Consultation of the EU Commission’s Comprehensive Approach to the Protection of Personal Data

The Association of Consumer Credit Information Suppliers (ACCIS) has responded to the Consultation on the Commissionʹs comprehensive approach on personal data protection in the European Union. The ACCIS response focuses on those questions that ACCIS believes are relevant to the industry.  The fundamental premise on which the ACCIS response is based is that the Data Protection Directive (DPD) is still an efficient ... Read More »

The European Consumer Credit Information Landscape

ACCIS (Association of Consumer Credit Information Suppliers) issued in March 2011 an analysis of a survey of credit bureaus in Europe.  The report was prepared by the European Credit Research Institute (ECRI) based in Brussels.  Established in 1999 for the study of banking and credit in Europe, ECRI focuses on institutional, economic and legal aspects related to retail finance and ... Read More »

8th World Consumer Credit Reporting Conference

The 8th World Consumer Credit Reporting Conference will be held on October 21 – 23, 2012 in Taiwan. Joint Credit Information Center (JCIC) along with the Association of Consumer Credit Information Suppliers (ACCIS) and the Consumer Data Industry Association (CDIA) will be hosting the WCCRC 2012 from 21st October to 23rd October 2012 at the W Hotel Taipei, one of ... Read More »

Observations from the BIIA Forum 2011: The SME Dilemma – Lack of Access to Finance

The SME Dilemma:  Eliminating Information Asymmetries – A Challenge and Opportunity for the Business Information Industry BIIA had invited Tony Lythgoe, from the IFC (World Bank Group) to provide an overview of the key findings from recent IFC work on the impact of information asymmetries on SME finance in developing countries, particularly the report titled ‘Scaling-Up SME Access to Financial ... Read More »