Seán Haughey (Dublin Bay North, Fianna Fail)
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300. To ask the Minister for Finance if he will request the Central Credit Register which is operated by the Central Bank to expedite an application for a credit check by a person (details supplied) given that it is required for the completion of a property transaction in the coming days; and if he will make a statement on the matter. [8263/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Credit Register (CCR) was established by the Central Bank under the Credit Reporting Act 2013.

The obligations under the Act apply only to Credit Information Providers (lenders). Lenders are obliged to submit personal and credit information on credit applications and credit agreements which amount to €500 or more to the CCR. Lenders are also obliged to enquire on the CCR when considering loan applications of €2,000 or more and may do so for loans of less than €2,000 and in certain other circumstances.

The Central Bank advises that responses to automated enquiries from lenders (which must include precise personal identification information) are typically fulfilled in real time. Any extension to the response time is usually due to queries which may arise in relation to the personal identification information provided by the lender. The Central Bank advises that there is no corresponding obligation under the Act on Credit Information Subjects (borrowers) to produce a credit report when applying for credit.

Borrowers may apply for their credit report any time, free of charge, online at www.centralcreditregister.ie. For data protection purposes, borrowers must include complete identification documents (passport, PPSN and address) and a completed application form.

Each application is scrutinised for compliance before being sent for completion. Any decision by an individual to produce their credit report to a third party is solely a matter between the individual and that third party.

The Central Bank advises that recent increases in activity by borrowers are likely to be as a consequence of increased awareness of the CCR and a possible knock-on effect of the cessation of the Irish Credit Bureau in late 2021. The processing of individual credit report applications is an operational CCR matter. However, the Central Bank advises that the time required to provide a credit report to a borrower is approximately three weeks and that efforts are underway to increase resources with a view to reducing this timeline.