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​Centrix, Equifax, Illion sidestep credit-reporting privacy rules, New Zealand watchdog says

( May 14, 2019, 00:42 GMT | Official Statement) -- MLex Summary: Credit-rating companies in New Zealand are failing to meet standards under privacy laws and must make it clear that consumers are entitled to see credit reports written about them, according to a report by the New Zealand Privacy Commissioner. The report, published today, outlined the shortcomings of the country’s three, national consumer-credit reporting companies: Centrix, Equifax and Illion. According to the review, all three companies often failed to meet the five working-day timelines for expedited reports, with Equifax’s credit reports requiring more detail to explain how its credit score is derived and what can affect the score. New Zealand’ Credit Reporting Privacy Code 2004 gives people the right to gain access to the information about them compiled by credit reporters.The statement from the New Zealand Office of the Privacy Commissioner follows, and the full report is attached. ...

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