The Australian Information Commissioner has approved variations to the Privacy (Credit Reporting) Code 2014 which deal with amendments regarding access to credit information and amendments that relate to financial hardship reporting. Background.
The hardship reporting changes follow amendments made to the Privacy Act 1988 relating to financial hardship reporting and access to credit information under the National Consumer Credit Protection Amendment (Mandatory Credit Reporting and Other Measures) Act 2021.
The variation will result in two tranches of amendments to the CR Code. The first tranche of amendments (version 2.2 that relates to minor amendments regarding access to credit information) is expected to commence on 22 April 2022 when it will be published on the Codes Register. The second tranche of amendments (version 2.3 that relates to financial hardship reporting) will commence on 1 July 2022.
UPDATE: Version 2.2 of the CR Code commenced on 22 April 2022.
UPDATE: Version 2.3 of the CR Code commences on 1 July 2022.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
