|By PR Newswire||
|January 20, 2014 12:47 PM EST||
VANCOUVER, Jan. 20, 2014 /CNW/ - The Supreme Court of British Columbia has upheld Consumer Protection BC's Compliance Order against TransUnion of Canada Ltd., a national credit reporting agency. In a judgement released today, the company was required to cease certain business practices related to the length of time information can remain on a consumer's credit report.
The Business Practices and Consumer Protection Act (BPCPA) regulates credit reporting agencies in BC with respect to what can be included in a credit report and who can see it. In April 2012, Consumer Protection BC issued a Compliance Order against TransUnion of Canada Ltd. (TransUnion), requiring the company to comply with two sections of the Act related to how long a consumer's information may stay on their credit report. The law prevents reporting agencies from including information detrimental to an individual on their credit report for longer than six years. TransUnion petitioned the Supreme Court of British Columbia for a judicial review of Consumer Protection BC's Order, pursuant to the Judicial Review Procedure Act. The Supreme Court of British Columbia, today, upheld Consumer Protection's BC Order and dismissed TransUnion's Petition.
"This a great day for British Columbians," says Manjit Bains, Vice President of Corporate Relations of Consumer Protection BC. "The law has been tested and, today, the court's decision confirms that no British Columbian should have adverse information on their credit report for longer than six years."
Consumer Protection BC encourages consumers to:
- Request a free copy of your credit report from both Equifax and TransUnion on an annual basis;
- Check your report carefully for the type of information included and the length of time the information has been on your report;
- Contact the credit reporting company if you have any concerns;
- If you are unable to resolve issues with the credit reporting company, visit Consumer Protection BC's online dispute resolution platform at www.resolveyourdispute.ca
A copy of the court's judgement will be available on the Supreme Court of British Columbia website. TransUnion has the right to file an appeal with the BC Court of Appeal within 30 days of today's decision.
There is a lot to know about credit reporting in BC. Jurisdiction for credit reporting is shared with the Office of the Information and Privacy Commissioner for BC and Consumer Protection BC. A backgrounder on credit reporting is available with additional information about the law in BC, consumer rights, business obligations and statistics. For more information about credit reporting, please visit www.consumerprotectionbc.ca.
About Consumer Protection BC
Consumer Protection BC is a not-for-profit corporation whose vision is confident consumers and trusted businesses in a thriving marketplace. We enforce consumer protection laws and strengthen consumer protection in BC by licensing and inspecting specific industries, responding to consumer questions, investigating alleged violations of consumer protection laws and educating consumers and businesses about their rights and responsibilities. For more information about our organization, please visit our corporate website at www.consumerprotectionbc.ca. You can also follow Consumer Protection BC on Twitter, like us on Facebook and read our blog for valuable consumer tips and resources.
SOURCE Consumer Protection BC