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Asia Pacific Dashboard Digest | Despite consumer privacy concerns, lenders move ahead with CCR participation Related reading: FTC weighing lawsuit against TikTok for alleged lax data privacy practices

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Despite a push from the federal Labor Opposition to delay a government plan that would mandate participation with the country’s voluntary comprehensive credit reporting, many of Australia’s major banks are preparing to engage, The Sydney Morning Herald reports. Equifax, Australia’s biggest credit bureau, now expects the majority of its Australian accounts to be incorporated into the credit reporting system over the next six months. Consumer protection groups worry CCR will adversely affect vulnerable customers, exposing them to increased fees or the target of predatory lenders.
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