Central Credit Register (C.C.R.) & Irish Credit Bureau (I.C.B.) Information
CENTRAL CREDIT REGISTER
The Central Bank of Ireland have set up a Central Credit Register under the Credit Reporting Act 2013.
The Central Credit Register is a national database that will, on request, provide:
- a borrower with an individual credit report detailing their credit agreements;
- a lender with comprehensive information to help with credit assessments; and
- the Central Bank with better insights into national trends in the provision of credit.
The Credit Reporting Act 2013 requires us to process your personal and credit information for the Central Credit Register. From 30 June 2017, we will submit personal information to the Central Credit Register that we may already have about you, like:
- your name;
- date of birth; and
- personal public service number (PPSN) – a very important piece of information for matching.
The Central Credit Register needs this information to make sure it accurately matches your loans, including loans that you may have with other lenders. Producing a full and accurate credit report is one of the main aims of the Central Credit Register. We will also submit credit information each month about your loans, if the loan is for €500 or more.
Your loan information will be stored securely on the Central Credit Register where it will be used to create your credit report. The Central Credit Register will not calculate a score or grade for your credit report. Information will be kept on the Central Credit Register for five years after your loan is paid off.
In early 2018, credit reports will become available from the Central Credit Register. Once available, you may request your report at any time and are entitled to one free report each calendar year.
Lenders may only access your credit report:
- when considering an application for a new loan;
- if you ask to change the terms of a loan; or
- if they are reviewing a loan in arrears.
Employers, landlords, or any other person or entity cannot access your credit report without your written consent.
We invite you to read the Central Credit Register factsheet at https://www.centralcreditregister.ie/media/1083/a-consumer-guide-to-the-central-credit-register.pdf
Irish Credit Bureau ( I.C.B)
NOTICE FROM IRISH CREDIT BUREAU D.A.C. (“ICB”)
As a result of the introduction of the General Data Protection Regulation (“GDPR”), from 25th May 2018 ICB will be using Legitimate Interests (GDPR Article 6 (f)) as the legal basis for processing of your personal and credit information. These Legitimate interests are promoting greater financial stability by supporting a full and accurate assessment of loan applications, aiding in the avoidance of over-indebtedness assisting in lowering the cost of credit, complying with and supporting compliance with legal and regulatory requirements, enabling more consistent faster decision making in the provision of credit and assisting in fraud prevention.
Please review ICB’s Fair Processing Notice which is available on their website, click here to view. lt documents who they are, what they do, details of their Data Protection officer, how they get the data, why they take it, what personal data they hold, what they do with it, how long they retain it, who they share it with, what entitles them to process the data (legitimate interests) what happens if your data is inaccurate and your rights i.e. right of access, right to complain, right to object, right to restrict, right to request erasure, and right to request correction of your personal information.