According to statement of objects and reasons, credit bureaus
throughout the world have their eminence and impact on financial decisions.
Kochkorov also proposed to add a new article providing the possibility of banks and other financial and credit institutions of information constituting bank secrecy, the credit bureau
to the law on bank secrecy.
Dubai: Precautions are needed to protect the lending sector and minimise any risks to the credit market in Gulf countries, advised Al Etihad Credit Bureau
chief executive officer Marwan Ahmad Lutfi.
Nabil Al-Mubarak, CEO of SIMAH said, "We are a neutral credit bureau
that provides credit information reports according to the Credit Information Law and Implementing Regulations.
The Bank of Namibia will regulate credit bureaus
in the interim, as stated by its Governer, Ipumbu Shimmi when asked to comment when the gazetting was announced at the Ministry of Finance.
in Singapore are not subjected to regulation or penalties.
And a 2011 study by the Policy and Economic Research Council found that 95% of consumers who notified the credit bureau
about an error in their credit report were satisfied with the outcome.
The CRIF credit bureau
, compliant with international quality standards, will manage credit information sent by Tajikistani institutions through an advanced technology platform, which will integrate all data on the reliability of a credit applicant into a single report.
also allow for greater information sharing which allows lenders to review how much and at what rate they lend to borrowers.
We believe that MECRA will enhance the role of credit bureaus
in the entire MENA region and our membership will further strengthen the role of credit bureaus
Nabil Mowais, executive director, Credit Chex, said the first official meeting of the Mecra members was extremely fruitful, as members examined recent trends, challenges and opportunities for the association's role in boosting regional credit information services, where credit bureaus
will support the regional economic growth.
Under the Fair Credit Reporting Act, credit bureaus
must ensure all information on credit reports is accurate and current.
Order a copy of your credit report each year from one of the national credit bureaus
and review it closely for any questionable entries.
About 20 states now have pending legislation that would force credit bureaus
to give consumers the right to freeze their accounts.
Positive credit bureaus
are central databases that store historic and current data, including credit card balances and limits, outstanding loan balances and payment histories as well as other information on every borrower in the financial system--thus enabling lenders to assess every consumer's creditworthiness and manage risk across their entire loan portfolios.