Mattie McGrath (Tipperary South, Independent)
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274. To ask the Minister for Finance how someone who believes their name is unfairly on the Credit Register can have their name removed as they are unable to access any credit; and if he will make a statement on the matter. [32099/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Credit Reporting Act 2013 (the Act) provided for the establishment of a Central Credit Register (CCR) by the Central Bank. Under the Act, lenders are obliged to submit information to the CCR on outstanding and new loans of €500 or more. On 30th June 2017, lenders began submitting information on active consumer loans such as credit cards, personal loans, overdrafts and mortgages. This was followed in March 2018 by business loans, moneylender loans and local authorities. Hire purchase, Personal Contract Plans (PCPs) and similar type products were included in June 2019. Lenders are obliged to submit information to the CCR that is accurate, complete and up to date.

When a loan has been closed by a lender, the lender must report this information at the next CCR reporting date and then information is retained on the CCR for a period of five years, after which it will be deleted in line with the Central Bank's retention policy.

The Act provides four important rights to borrowers:

• The right to a free report at any time, free of charge (subject to fair usage);
• The right to place an explanatory statement of up to 200 words on their credit report;
• The right to request an amendment to information if the borrower believes that information is incorrect, incomplete or not up to date;
• The right to place a Notice of Suspected Impersonation on their credit report.