Yes, the Central Credit Register is an appropriate tool to assess creditworthiness and gives the credit provider a sound basis to assess suitability. Consideration may need to be given to...
3.11 Article 18(11) of CCD2
Closed19 Sep, 2024, 12:00 - 18 Oct, 2024, 17:00
It is essential that the consumer's ability and propensity to repay the credit is assessed and verified before a credit agreement is concluded. That assessment of creditworthiness should be proportionate and done in the interest of the consumer, to prevent irresponsible lending practices and over-indebtedness, and should take into consideration all necessary and relevant factors that could influence a consumer's ability to repay the credit. As part of the creditworthiness assessment, Member States may require creditors to assess the creditworthiness of consumers on the basis of consultation with the relevant database.
Question 11 – Should Ireland continue to require creditors to consult with appropriate databases (The Central Credit Register) as part of the creditworthiness assessment?
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Materials
Observations
Observations
Yes, the Central Credit Register provides a consistent, transparent, and objective framework for both creditors and borrowers, and it should remain an integral part of the creditworthiness evaluation...
Yes. There should be no change to the existing requirements, which safeguard consumers and protect against the provision of additional credit which could potentially lead to over-indebtedness.
Yes. The Central Credit Register (CCR) was established under the Credit Reporting Act 2013 (as amended). We would see the need for constant upgrading of the CCR to ensure accuracy.
As part of...
Yes. The CCR offers a standardised, objective and transparent approach for creditors and borrowers, and should be retained as part of the creditworthiness assessment.