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What is a credit bureau?

What is a credit bureau?

A Credit Bureau—an important part of the 

of the Financial Sector Infrastructure

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A credit bureau is a company that collects information from lenders and other sources about your borrowing and bill-paying history, which is stored in a secure and centralized location. This information is then compiled in a credit report.

The Operations of a Credit Bureau

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Why establish a credit bureau?

Credit bureaus support the overall objective of financial stability and economic growth by 

How will borrowers benefit from a credit bureau?

Borrowers with good payment history often have access to lower collateral requirements 

How will lenders benefit from a credit bureau?

Increased access to accurate and comprehensive information about borrowers’ credit history

Will my credit report contain historical data?

The credit bureau will not include information about your borrowing history in your credit report relating to loans 

Who will have access to my credit report and when?

Only certain persons will be able to obtain a copy of your credit report and only for a purpose permitted by the law and 

Will I be able to get a copy of my credit report and if so, is there a cost involved?

A free copy of your credit report from the credit bureau is available: 

Will I be told if my credit report has been or was about to be disclosed to a lender or user?

You will not receive advance notice in circumstances where you 

Will I be told if my credit report has been or was about to be disclosed to a lender or user?

You will not receive advance notice in circumstances where you 

What type of information will be in my credit report?

Increased access to accurate and comprehensive information about 

What are the permissible uses
for my credit information?

A credit bureau may issue your credit report only when:

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What measures will be taken to safeguard my information?

The credit reporting legislation contains provisions to ensure that your personal and credit 

What are the rights of the
individual?

Credit bureaus are required to inform every consumer whose data is held by the credit bureau of the procedure for 

What must I do if information held or disclosed by the credit bureau about me is incorrect?

You will be required to immediately notify the credit bureau, in writing.

Proposed Timelines for the Completion of the

BCB Project and Next Steps

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