Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.
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Transcript of Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.
![Page 1: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/1.jpg)
www.option-consommateurs.org
New services offered by credit agenciesThe issue of transparency
![Page 2: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/2.jpg)
Introduction
Credit reports Credit scores Two questions:
What are the new services offered by credit agencies?
Are consumers sufficiently informed about these services?
www.option-consommateurs.org
![Page 3: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/3.jpg)
What are the new services offered by credit
agencies?
Scoring multiplication Diversification of the uses for credit
reports Identity verification and fraud prevention Services to consumers Service automation
www.option-consommateurs.org
![Page 4: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/4.jpg)
Are consumers sufficiently informed about these services?
Difficulty to obtain information The major financial institutions’ consent
clauses Management policies for personal
information (credit agencies and banks) Legal implications
www.option-consommateurs.org
![Page 5: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/5.jpg)
Possible solutions
The need to better inform Canadian consumers
Change the law: 4.8.2 principle - openness
Changes in practices Simplify and explain
www.option-consommateurs.org
![Page 6: Www.option-consommateurs.org New services offered by credit agencies The issue of transparency.](https://reader036.fdocuments.in/reader036/viewer/2022082611/56649ee15503460f94bf1467/html5/thumbnails/6.jpg)
Other issues
Re-identification risk Inaccurate data in credit reports Freedom of contract and risk
management
www.option-consommateurs.org