On its 12th meeting, held on Monday 11 May 2020 via videoconference, the Management Board of ACCIS sent a message of empathy and support towards families, businesses and communities that are suffering the impact of the coronavirus pandemic.

The Management Board also thanked the thousands of employees in the industry for ensuring business continuity and the ongoing support to clients and users.

In its communiqué, the Management Board outlined how European credit referencing industry is working on delivering the most appropriate customer outcomes:

  • By ensuring that banks that agree a payment deferral do not report a worsening arrears status on the consumer’s credit file;

  • By inviting consumers to ask for a free copy of their credit reports;

  • And by collecting data that can help tackle the financial fallout from the pandemic.

“Our international standard-setter recommends continued full sharing of credit information, with the necessary safeguards,” said Mariusz Cholewa, Vice President of ACCIS. “At all times but, in particular, during a crisis, continued full sharing of credit information enhances the completeness and accuracy of credit reports and preserves the integrity of the credit reporting system. The specific reporting conventions that we each use in our respective credit reporting markets are secondary.”