Dáil Éireann Debate, Tuesday - 11 June 2013
141. Deputy Simon Harris asked the Minister for Finance if he has given consideration to putting in place a creditworthiness database or measure of similar constitution; and if he will make a statement on the matter. [28015/13]
View answerThe Credit Reporting Bill, which was published in September 2012, will enable the establishment of the Central Register which will be owned by the Central Bank. The Register will contain credit information pertaining to both consumers and businesses. The Bill also provides that credit providers must access the Register when a consumer or business makes an application for a loan in excess of €2,000, in order to ascertain their creditworthiness. When the Register is operational it will act as a support to the financial services industry and will support responsible lending and borrowing. It will also aid the supervisory functions of the Central Bank and will enhance consumer protection measures in respect of lending.
Second stage of the Bill was completed on 18 April 2013 and the Committee stage date and remaining stages have yet to be confirmed. In anticipation of the enactment of the Bill, the Central Bank is engaged in preparatory work which will facilitate the coming into operation of the Register.
