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 our General Election manifesto we would see the need for urgent enhancements to prevent fraud such as introducing a Personal Public Service Number (PPSN) check on loan enquiries on the Central Credit Register.
As outlined above, there is a need to move to quickly to implement Recommendation 11.2 of the Retail Banking Review,
“The operation of the Central Credit Register should be amended, following engagement with relevant stakeholders, to:
- Reduce the reporting threshold for credit agreements from €500 to €200 and the consultation obligation threshold from €2,000 to €1,000; and
- Introduce a new lower fee for Central Credit Register consultations for low value loans (i.e., loans of less than €1,000, in line with the proposed changes to the obligatory consultation threshold) to facilitate smaller loans, particularly by credit unions.
The Department of Finance should draft legislation, if the proposed amendments require it.”