Credit agencies get the right to check your pockets

[davereid]

You will soon get a notice in the mail from anyone you pay a bill to, like your credit card company, electricity retailer, etc etc that their terms and conditions have changed.

They will soon be reporting all your financial transactions to Baycorp and other credit agencies.

The amount due, date due date paid and amount paid for each account you hold will be sent to Baycorp etc who can hold and sell the information for up to two years.

[Brian d marge]

I got one of these in the mail,,,


Credit Reporting Privacy Code 2004 Amendment No 5

The Privacy Commissioner has issued Amendment No 5 to the Credit Reporting Privacy Code 2004.

This amendment comes into force on 1 April 2012, with two transitional clauses coming into force on 1 December 2011.

The amendment makes changes to credit reporting regulation, including:

· permitting the ongoing collection and reporting of repayment history information by credit reporters; · enabling victims of fraud to have their credit information suppressed; · permitting credit reporters to pre-screen credit providers’ direct marketing lists; · introducing a $100 threshold for listing credit defaults; · providing clearer procedural safeguards for guarantors; · helping ensure that people shopping around for credit are not penalised for that in their credit score; · imposing more detailed obligations on credit reporters to demonstrate compliance; and · providing for the transition from predominantly negative to comprehensive reporting.

Please follow the hyperlinks to these documents:

· Amendment No 5; · Information paper; · Background paper setting out the changes made to the notified amendment; · FAQs.

If you have any further questions, please don't hesitate to us.

[Usarka]

Cross it out, sign it and return it.

[The End]

Cross it out, sign it and return it.

^this

(10char)

[rastuscat]

Cross it out, sign it and return it.

Yeah, do that. It'll undo the law.

While you're at it, get a copy of the local building code, cross it out, and post it back to the council, it'll mean you won't need a building consent for your next build.

[Usarka]

Yeah, do that. It'll undo the law.

While you're at it, get a copy of the local building code, cross it out, and post it back to the council, it'll mean you won't need a building consent for your next build.

According to the 2nd post, the law permits the changes, it doesn't make them mandatory.

But then cops are known to be experts at contract law.....

[CHOPPA]

If there not the original terms and conditions you agreed too then you dont have to sign anything

[davereid]

If there not the original terms and conditions you agreed too then you dont have to sign anything

Not in this situation. The Privacy Commissioner considers that advising you of the new terms and conditions is all that is required. You don't get a new authority to sign.