Credit Bureau Association: Bureau Business - Edition No. 2

 

Here's to a productive 2016! Greetings to our members, stakeholders and partners. Thank you for taking a few minutes (about five, we estimate) to catch up on our news and upcoming initiatives contained below.  We're already into the third month of what promises to be an extremely busy and productive year. First off, on behalf of the Credit Bureau Association, I would like to extend a warm welcome to our newest member, VeriCred Credit Bureau. It's a pleasure to have you on board.  What's keeping us busy… The review process for the policy directives (stemming from the NCA and other related amendments) kicked off at the end of last year and is currently being concluded. While this took a little longer than expected, the discussion was thorough and robust, and allowed us to work through every directive, ensuring its relevance and compliance to the amended legislation. In the end, members will be please to hear no new directives were implemented. Instead, the existing directives were refreshed and consolidated as required. A similar approach was taken to the CBA Constitution which also needed to be reviewed in light of the prevailing legislation. The next "table leg" here is the Code of Conduct which will be revised in line with the applicable sections of the PoPIA code. Although we are still awaiting definite news on the appointment of the regulator, we are forging ahead and will continue to work to ensure that we are ready to submit our code as soon as the appointment is confirmed. The updated Constitution will be tabled at the CBA AGM – a date for which will be advised shortly.   Featured in Coming up in 2016 We are anticipating engagement with the NCR around the Reg 19(13) guidelines, which will prescribe the format in which data must be shared by the industry shortly. We also continue to engage with the Department of Justice around the sharing of maintenance judgment information and the Cybercrime Bill.  We will communicate any updates on these with our members in due course.     Our consumer education drive continues In 2015 we made great strides on our plans to engage more with the media and with consumers directly. We were featured in a number of educational-slanted news articles (online and in print) and on talk radio, and our members generously made resources available to support the Know Your Credit Status campaign and give out credit reports at several private and public events. This included attending the National Credit Regulator's own staff wellness day event, and partnering with the NCR to take the same service to the Department of Trade and Industry (DTI) at the end of 2015 and the Department of Public Service and Administration (DPSA) in early 2016. We have a number of similar events on the horizon in 2016, and our upcoming media initiatives include a series of in-depth interviews on Unisa Radio and a feature in the Business Day newspaper.  As always, if you have exciting initiatives coming up, please share them with us by replying directly to this mail or to enquiries@cba.co.za.

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