Submission to the FCA on Credit Reference Agencies
Advocacy
Post date
2nd August 2019
![Image](/sites/default/files/flysystem/styles/middle_column_cropped_small_1x/local-default/2019-08/Screenshot%202019-08-02%20at%2017.15.57_0.png?itok=5Xg9PGHX)
Privacy International provided comments to the UK Financial Conduct Authority on the Terms of Reference to its Credit Information Market Study.
We highlighted that:
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Credit data (whether ‘traditional’ credit data; data from Open Banking sources, or other sources of data like social media) are hugely revealing of people’s lives far beyond the state of their financial affairs.
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The affects upon consumer behaviour of this use of data in the credit sector extends beyond the choices they make surrounding financial products.
- It is essential to investigate the data broker role of the credit reference agencies.
See PI's work on Fintech and our data protection complaints against credit reference agencies/ data brokers Experian and Equifax.
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