Credit histories

The access to and availability of credit data is an important factor in promoting competitive retail financial services markets. Customers seeking to take out a loan with another institution – be it in the domestic market or cross-border – may face higher prices or be denied access to credit because of the lender’s inability to access complete information on the consumer. This reduces customer mobility and choice. Inability to access complete credit data may also impede the ability of new (domestic or foreign) credit providers to compete for customers. As announced in the Single Market Review and the White Paper on the Integration of EU Mortgage Credit Markets, the Commission therefore seeks to encourage the smooth flow of credit data, while taking into account the need for data protection.

The Expert Group on Credit Histories will aim at identifying solutions that maximise the circulation of credit data within the EU, whilst ensuring a high level of consumer protection.

• Consultation
• EGCH

Consultation