Is it true that CRIF decides whether to grant or refuse credit?
No, it is not: CRIF provides credit information to subscriber institutions from whom you have requested a loan, but does not express opinions, nor does it approve or reject your loan applications. It is the subscriber institutions themselves, based on the information that has been collected by CRIF and other data suppliers, who decide whether to accept your request, and these decisions are always made on the basis of credit policies, which may differ from one institution to another. Moreover, under art. 5, paragraph 6 of the Code of Conduct and Professional Practice for credit reporting systems, when a credit application is not accepted, the subscriber institution informs the interested party whether in processing the request it has consulted personal data in one or more systems regarding negative credit information, and gives identifying information on the system in which such data was found and the company managing it.
Related Questions
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