✉news BusinessBanking first seen 7 h ago, last 21 min ago, peak #15
Central Bank Proposes Expanding Credit Database to Non-Bank Lenders
The central bank has put forward a proposal to expand the credit database to include non-bank lenders, meaning their lending activity would be captured in the official credit reporting system. The move would give regulators and creditors a fuller picture of borrower debt across the financial sector. Details on timing, scope and which lenders would be covered have not yet been made clear.
Why now: The proposal would change how borrower credit information is recorded and shared, affecting both lenders and consumers.
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