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David Thornton
Money Magazine
Your Money Journalist
02 December 2019

Comprehensive credit reporting (CCR) is a boon for consumers, and the banks are leading the way.

CCR has been drip-fed to Australian consumers over the last five years. It was first introduced on a voluntary basis in 2014. A CCR bill was introduced to parliament in 2018 but never progressed into law due to the Federal Election.

The government had been hoping to bring to parliament this year, but again it's been shelved.

Not that it matters. The big four banks completed migration to the new CCR system ahead of any legal requirement to do so, with about 80% of all mortgages and 60% of all personal loans now on the system.

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