Group wants to curb Irish Credit Bureau

Brendan Burgess

Brendan Burgess

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According to a report in today's Irish Times a new group blacklistednames.com is being set up to stop financial institutions passing on information to the Irish Credit Bureau.

The site will be operational before the end of November.

The person behind it is Dr Alan Evans.

Brendan
 
a new group blacklistednames.com is being set up to stop financial institutions passing on information to the Irish Credit Bureau.

On what grounds? Privacy?
 
The quotes below are the only 2 attributed in Dr Evans in the report. He seems more concerned about access to credit than privacy, but maybe this will be clarified when the website is up and running.

"We are gravely concerned that at present without full knowledge or consideration of transactions, financial institutions can refuse anyone a loan because their details appear on this database.

"If someone defaults on a loan, even for reasons beyond their control with just one bank, with this database their chances of getting a loan with anyone else are taken away. It puts the individual in an extremely weak position."
 
Thanks for those quotes Statler. Presumably the website will expand on the group's aims and motivations when it's up.
 
If someone defaults on a loan, even for reasons beyond their control with just one bank
Click to expand...
Seems pretty ludicrous to me - we now expect banks to keep dishing out the loans repeatedly to individuals regardless of their track record? That's a charter for chancers.
 
Blacklisted

If someone defaults on a loan, even for reasons beyond their control with just one bank
Click to expand...


I don't see this campaign going anywhere. There are lots of issues in the financial world that possibly need reforming, but making it easier for people to get into debt shouldn't be one of them.

I've never heard anyone say that the current ICB arrangment is in any way unfair.

-Rd
 
Re: Blacklisted

there's existing data protection legislation which allows you to correct any mistakes in the data they hold on you.

i'd like to chime in dismissing this. i don't see any justification for forcing handicaps on financial institutions who are trying to determine the riskiness of a loan. if something like this did go through, then loan and credit card rates would go up for everyone.

i guess next there'll be calls for auto insurance companies not to have access to your claims record or penalty points?

or health insurance companies not to use your age or likeliness of being ill? oops.... scratch that last one.
 
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