Carol

BEAUMONT

Consumer Rights Spokesperson
25 March 2014 MEDIA STATEMENT

Credit agency must stop rorting system

Labour is backing calls for credit reporting agencies to stop charging extortionate fees.

“Privacy Commissioner John Edwards’ report into Veda Advantage’s urgent request charges confirms what most Kiwis already know – that these agencies are ripping people off,” Labour’s Consumer Rights spokesperson Carol Beaumont says.

“A Labour-led Government would demand these companies stop rorting the system.

“Companies like Veda are obliged to provide free access as soon as is reasonably practicable.

“While the law also allows them to charge a ‘nominal’ fee for an urgent request, that doesn’t give them carte blanche to charge what they like.

“It is good to see the Privacy Commissioner holding Veda to account and acting on behalf of consumers, many of whom will be in a vulnerable position.

“Widening the investigation to cover all credit reporting agencies is the next logical step, along with amending the industry code of practice to clarify issues around urgent requests.

“As the Commissioner notes it is within people’s rights to ask for their money back. Anyone who has paid Veda’s fee should do so, and follow up with a complaint,” Carol Beaumont said.

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