Comprehensive Credit Reporting
From 12 March additional information is permitted to be collected, held and disclosed by credit bureaus.
The new comprehensive credit reporting system gives Australians more power to demonstrate credit worthiness and manage their credit profile.
The Privacy Act 1988 (the Act), which is the legislation governing consumer credit reporting in Australia, has been amended to introduce comprehensive credit reporting.
The new data allowed under comprehensive credit reporting is now appearing on many credit reports.