A credit reporting code will be fully updated from 1 October to  strengthen the rights of New Zealanders to get quicker access to credit reports and access to credit scores for free.

The Credit Reporting Privacy Code 2004 code applies specific rules to credit reporters to better ensure the protection of individual privacy. The Office of the Privacy Commissioner says the code addresses the credit information collected, held, used, and disclosed by credit reporters. For credit reporters the code takes the place of the information privacy principles.

Changes to the Code are being made in three stages during 2019. The intention is the give the credit reporting industry a period of adjustment to the new requirements.

The second raft of changes came into force on 1 July 2019. They will strengthen the rights of New Zealanders to get quicker access to their credit reports and access to credit scores for free.

An earlier set of changes took effect on 1 April 2019. The final set of changes will take effect on 1 October 2019.

The changes are the result of the recommendations of an 18-month review of the operation of the comprehensive credit reporting system. Amendment No 14 is intended to make the credit reporting system fairer for consumers, and improves enforcement and compliance.

More detailed information (including explanations) about the Amendment No 14 changes to the Code can be found here.