Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


Privacy Commissioner says Veda charges are unlawful

Privacy Commissioner says Veda charges are unlawful

25 March 2014

The credit reporting agency, Veda Advantage, is charging consumers an unreasonable sum for urgent requests for credit information, says the Privacy Commissioner.

Privacy Commissioner John Edwards says people making urgent requests for their credit information are likely to be in a vulnerable position because they have a pressing issue regarding their credit.

Veda is obliged to provide free access as soon as reasonably practicable but the law does provide for an ability to charge a reasonable fee if the information is requested on an urgent basis.

The company’s practice is to offer individuals a personal credit file for $51.95 where information is provided urgently, or to provide a free credit file in 20 days which the company describes under a sub-heading as “Want your credit report but have 20 days to spare?”

The credit report that Veda provides for urgent requests costing $51.95 includes standard credit information, a credit score and explanatory notes relating to the credit information.

John Edwards says the step of naming Veda was not taken lightly but done to draw consumers’ attention to the issue.

He says Veda is not legally entitled to charge for some of the aspects that make up its charge for urgent requests. The Privacy Act requires that any reasonable fee should be nominal and the company’s charge exceeds this by a large margin.

“We received a complaint that Veda was charging too much for credit information when people needed the information urgently. While we closed that complaint, it did not resolve our concerns about the charge for urgent requests and so we started an investigation into the wider practice.

“At this stage, we have not investigated other credit reporters. We are now considering whether to broaden our probe to include other credit reporting agencies.”

Veda is not the only credit reporter in New Zealand, but it is one of the largest. It is not the only credit reporter that charges consumers seeking urgent access to their credit reports.

“If you are going to need a credit report on your finances, I urge you to make that request sooner so it can be dealt with in 20 days, otherwise you will get hit with an unfair and unlawful extra cost,” Mr Edwards said.

The Privacy Commissioner’s report into Veda Advantage’s charge for urgent requests for personal information is available at www.privacy.org.nz.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Journalism’s Future In The Era Of “Alternative Facts.”

Already, the White House has made it clear that the media are the new enemy that the new President’s supporters will be encouraged to unite against. (What else can they do now they don’t have Hillary Clinton to demonise any more?)

The fantastic phrase “alternative facts” coined by Trump spinmeister Kellyanne Conway captures the media strategy in a nutshell. More>>

 

PM's Press Conference: TPP, Trade And Minimum Wage

Prime Minister Bill English’s first official press conference of the year began with a warm welcome back from holidays. In relation to President Trump’s withdrawal from the TPP he expressed disappointment but hopes to negotiate a bilateral agreement with the US in the future. More>>

Employment: Minimum Wage To Increase To $15.75

The minimum wage will increase by 50 cents to $15.75 an hour on 1 April 2017... The starting-out and training hourly minimum wage rates will increase from $12.20 to $12.60 per hour, remaining at 80 per cent of the adult minimum wage.More>>

ALSO:

Housing: Sit-In Occupation To Stop Niki’s Eviction

The Tāmaki Redevelopment Company hopes to issue a Possession Order for 14 Taniwha Street, Glen Innes. This will give them the ability to forcibly evict Ioela ‘Niki’ Rauti who has lived at 14 Taniwha Street for 21 years... More>>

ALSO:

Gordon Campbell: On Bill English, Abroad

If David Cameron was the closest thing John Key had to a political mentor, their successors also share a whole lot in common. Theresa May and Bill English were both propelled into the top jobs as the result of unexpected resignations, and without much in the way of credible competition from their colleagues... More>>

ALSO:

Pike River: Labour Bill To Override Safety Act For Mine Entry

“Bill English has been hiding behind the legal excuse that any attempt to re-enter the mine to recover the bodies might place the mine’s owner, Solid Energy Limited, and its directors in breach of the Health and Safety at Work Act 2015." More>>

ALSO:

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future? More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news