In Australia, credit reporting is regulated by:
• part IIIA Privacy Act 1988 (Cth) (“PA 1988”);
• the Privacy Regulation 2013 (Cth) (“Privacy Regulation”);
• the Privacy (Credit Reporting) Code 2014 (Version 2) (“CR Code”), which is a legally binding code; a breach of the CR Code is treated as a breach of the PA 1988.
Australia’s credit-reporting regime aims to capture consumers’ entire credit repayment history on their credit files rather than only negative information (e.g. when they default).