Mandate of the Credit Bureau Compliance
Credit Information Department , regulates the operations of credit bureaus to ensure that they comply with the provisions of the National Credit Act, 2005 and the Regulations thereto (“NCA”).
In addition thereto the Department is responsible in ensuring that all credit bureaus adhere to credit reporting standards as prescribed by the National Credit Act and the Regulations in order to ensure that there is quality and accurate consumer credit information. Consumer credit Information plays a fundamental basis in respect of credit granting and it is outmost important that the information has to be accurate and up to date. The Department ensures that all credit bureaus adhere to maximum retention period of consumer credit information such as paid up judgments and adverse information and protection and confidentiality of the information.
