Caribbean Credit Bureau

Legal & Privacy

 

Caribbean Credit Bureau (CCB) respects the privacy rights of individuals and adheres to laws and regulation relating to the privacy rights of its consumers.  Accordingly, CCB will not share sell or distribute or disclose any data it has in its system other than for intended purposes. All data submitted, collated and shared using our Online Registration system is protected with high technical and procedural standards.  In addition, CCB promotes transparency towards all consumers that are registered in CCB’s Online Registry.

CCB respects the principles EU Privacy directive as an authoritative framework for privacy subject to any specific requirements of the local laws and regulations.

  1. CCB aims to comply with high standards to the following public policy objectives for credit reporting systems:
  2. Offer Positive and Negative Data reporting to all lending institutions that keep proper books and records and share data on a reciprocal basis.
  3. The data we store is relevant, accurate, timely and sufficient data collected on a systematic basis from all reliable, appropriate and available sources, and should retain this information for a sufficient amount of time, but not indefinitely.
  4. Our systems are subject to rigorous standards of security and reliability, and be efficient.
  5. Our governance structure regarding our credit reporting services and the procedures agreed upon with data providers are geared to ensure accountability, transparency and effectiveness in managing the risks associated with the business and fair access to the information by authorized users.
  6. Our overall framework for credit reporting is clear, predictable, non-discriminatory, proportionate and supportive of data subject and consumer rights and includes effective judicial or extrajudicial dispute resolution mechanisms.
  7. Cross-border credit data transfers are facilitated in accordance with local laws.

 

Furthermore CCB makes an effort in the jurisdiction in which it operates to promote the following:

-     Users are trained and guided to make proper use of the information available from credit reporting service providers.

-     Consumers should provide truthful and accurate information to data providers and other data sources.

-     Promotion by authorities of our credit reporting system that is efficient and effective in satisfying the needs of the various participants, and supportive of data subject/consumer rights and of the development of a fair and competitive credit market.

-     Our credit reporting systems should become subject to appropriate and effective regulation and oversight by the central bank, a financial supervisor, or other relevant authorities in the locations in which we operate. It is important that one or more authorities exercise the function as primary overseer.