RECOMMENDATIONS
Chapter 3 General issues
Recommendation 1
3.21 The
committee recommends that consideration be given to locating the credit
reporting provisions in a schedule to the Privacy Act.
Recommendation 2
3.55 The
committee recommends that the Exposure Draft be reviewed to ensure that the
provisions are clear and concise.
Recommendation 3
3.56 The
committee recommends that the definitions be reviewed to ensure consistency
across the Privacy Act and, to the extent possible, that definitions are standalone
provisions.
Recommendation 4
3.67 The
committee recommends that the Exposure Draft be amended to incorporate all of
the relevant requirements of the Australian Privacy Principles for both credit
reporting agencies and credit providers, in addition to the more specific or
different requirements for credit reporting.
Recommendation 5
3.97 The
committee recommends that the Department of the Prime Minister and Cabinet
undertake consultations to ensure that the needs of industry and consumers are
addressed during the lead up to the implementation of the new credit reporting
regime.
Recommendation 6
3.98 The
committee recommends that the Office of the Australian Information Commissioner
consult with industry and consumer advocates to provide guidance on any
consumer education campaigns in relation to the new credit reporting system.
Recommendation 7
3.112 The
committee recommends that consideration be given to including a requirement in
the provisions for the powers and functions of the Australian Information
Commissioner that a regular audit of a randomly selected credit reporting
agency and a credit provider in Australia be conducted by the Australian
Information Commissioner.
Chapter 4 Serious credit infringements, identity theft
and hardship
Recommendation 8
4.23 The
committee recommends that consideration be given to a change of approach in
dealing with serious credit infringements to allow for those listings, not
relating to intentional fraud, to be dealt with in a different manner.
Recommendation 9
4.49 The
committee recommends that the Exposure Draft be reviewed to ensure that the
intent of the Government's response to ALRC Recommendation 57–5, that credit
reporting agencies be required to advise a credit provider that they are unable
to release information due to an individual's concerns about possible fraud, is
clearly provided for.
Recommendation 10
4.50 The
committee recommends that the time of the initial ban period be extended from
14 days to 21 days.
Recommendation 11
4.69 The
committee recommends that consideration be given to expanding the meaning of
new arrangement information to include circumstances where an individual seeks
new terms or conditions for their original consumer credit before they default.
Chapter 5 Complaints handling
Recommendation 12
5.37 The
committee recommends that the time period for the correction of credit
information be amended to 15 days.
Recommendation 13
5.39 The
committee recommends that that issue of extensions of time to respond to
requests for correction of records be addressed in the Credit Reporting Code of
Conduct.
Recommendation 14
5.83 The
committee recommends that consideration be given to implementing the
recommendations of the Office of the Australian Information Commissioner in
relation to the substantiation issue.
Chapter 6 Credit reporting agency provisions
Recommendation 15
6.61 The
committee recommends that the opt out provisions in section 110 be reviewed to
ensure consistency with other consumer credit regulatory regimes.
Recommendation 16
6.65 The
committee recommends that section 115 be reviewed in light of the Office of the
Australian Information Commissioner's comments relating to disclosure of
de-identified information and the rules to be issued.
Recommendation 17
6.87 The
committee recommends that the Credit Reporting Code of Conduct include
requirements in relation to the standard of information provided to a consumer
in relation to accessing free credit reports and those for which there is a
charge.
Recommendation 18
6.108 The
committee recommends that consideration be given to providing in subsection
126(4) a general requirement for notification of destruction of credit
reporting information to all recipients of credit reporting information in
cases of fraud and not only limited to when an individual makes such a request.
Chapter 7 Credit provider provisions
Recommendation 19
7.23 The
committee recommends that section 132 be reviewed to ensure that the disclosure
obligations on credit providers in relation to 'credit information' protect all
credit information collected by credit providers.
Recommendation 20
7.26 The
committee recommends that greater clarity be provided as to the timeframes for
disclosure of default information pursuant to paragraph 132(2)(e) either in the
Credit Reporting Code or in guidance from the Office of the Australian
Information Commissioner.
Chapter 8 Division 4 and penalty provisions
Recommendation 21
8.6 The
committee recommends that a definition of the term 'credit manager' be
provided.
Recommendation 22
8.13 The
committee recommends that further consideration be given to the regulation of
credit eligibility information provided by credit providers to debt collectors
that are small business operators.
Recommendation 23
8.39 The
committee recommends that consideration be given to provide increased funding
for the Office of the Australian Information Commissioner to effectively and
efficiently investigate breaches of the credit reporting provisions.
Recommendation 24
8.43 The
committee recommends that consideration be given to the inclusion of consumer
remedies, similar to those that exist in the National Consumer Credit
Protection Act such as compensation, for consumers adversely affected by
contraventions of the credit reporting provisions.
Chapter 9 Definitions
Recommendation 25
9.10 The
committee recommends that the definition of 'court proceedings information' be
reconsidered to ensure that summonses cannot be listed on a consumer's credit
information file.
Recommendation 26
9.15 The
committee recommends that the definition of 'identification information' be
reviewed to ensure that it does not restrict the ability of credit reporting
agencies and credit providers from meeting other regulatory requirements.
Recommendation 27
9.19 The
committee recommends that section 181 be reviewed to provide for greater
clarity and certainty in the meaning of 'publicly available information' as
proposed by the Office of the Australian Information Commissioner.
Recommendation 28
9.27 The
committee recommends that the meaning of 'default information' be reviewed to
ensure that statute barred debts are prohibited from being listed.
Recommendation 29
9.48 The
committee recommends that consideration be given to the inclusion of provisions
for grace periods in relation to information in repayment histories.
Recommendation 30
9.70 The
committee recommends that section 192 be reviewed to ensure that onerous
conditions are not placed on individuals accessing their credit reporting
information via the National Relay Service, in particular the need to provide
written authorisation. Further, the committee recommends the Department of the
Prime Minister and Cabinet, in undertaking the review, consult the National
Relay Service and the Office of the Australian Information Commissioner.
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