Credit Report

2009 Credit Reporting Agencies Bill

credit report

Credit Reporting Agencies Bill 2009 passed by the Dewan Rakyat recently. The Bill requires credit-reporting agencies to obtain consent from an individual prior revealing his financial information to anyone else.

Consumers have the right to inspect the data and give their consent for the data to be displayed or otherwise.

The Bill also clarifies the roles and responsibilities of such agencies, which previously have been criticised for wrongly blacklisting the names of borrowers seeking loans from financial institutions.

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