1 / 7

New services offered by credit agencies

New services offered by credit agencies. The issue of transparency. Introduction. Credit reports Credit scores Two questions: What are the new services offered by credit agencies? Are consumers sufficiently informed about these services?.

wplanas
Download Presentation

New services offered by credit agencies

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. New services offered by credit agencies The issue of transparency www.option-consommateurs.org

  2. Introduction • Credit reports • Credit scores • Two questions: • What are the new services offered by credit agencies? • Are consumers sufficiently informed about these services? www.option-consommateurs.org

  3. What are the new services offered by credit agencies? • Scoring multiplication • Diversification of the uses for credit reports • Identity verification and fraud prevention • Services to consumers • Service automation www.option-consommateurs.org

  4. Are consumers sufficiently informed about these services? • Difficulty to obtain information • The major financial institutions’ consent clauses • Management policies for personal information (credit agencies and banks) • Legal implications www.option-consommateurs.org

  5. Possible solutions • The need to better inform Canadian consumers • Change the law: 4.8.2 principle - openness • Changes in practices • Simplify and explain www.option-consommateurs.org

  6. Other issues • Re-identification risk • Inaccurate data in credit reports • Freedom of contract and risk management www.option-consommateurs.org

  7. Alexandre Plourde aplourde@option-consommateurs.org www.option-consommateurs.org

More Related