§ Mr. Cordleasked the Secretary of State for Prices and Consumer Protection if she will introduce appropriate legislation to ensure that only reputable and responsible organisations are allowed to set up and maintain records on individuals for credit-rating purposes.
Mr. Alan WilliamsThe Consumer Credit Act 1974 makes appropriate provision in that it will require credit reference agencies to obtain a licence from the Director General of Fair Trading. I hope to make an order relating to the introduction of licensing under the Act in the course of this year.
§ Mr. Cordleasked the Secretary of State for Prices and Consumer Protection (1) if she will introduce legislation to compel 278W organisations which compile records on individuals for credit-rating purposes to submit to any person in respect of whom any business man or trade has made a complaint, and whom they propose to list on this file, full details of the allegations which have been made.
(2) if she will introduce legislation to enable any person aggrieved by the fact that an organisation which compiles records on individuals for credit-rating purposes proposes, in the light of information received from a trade or business man, to include his name upon the files, to bring proceedings in the courts for a declaration that the information given to the organisation was inaccurate and untrue and for an order that the organisation removes his name from its files.
Mr. Alan WilliamsNo. The relevant provisions of the Consumer Credit Act 1974 which I expect to bring into operation this year will give the individual a right to obtain from a credit reference agency a copy of any file on him and to require the correction of any wrong information. Where he cannot agree with the agency on the terms of the correction he will be able to apply for an order to the Director General of Fair Trading.