Credit Reporting Agencies

The Credit Reporting Act controls the practices of credit reporting agencies and requires them to be licensed. An agency that practices prohibited methods of credit reporting can have its license suspended or cancelled.

The following are examples of what would be unlawful for a credit reporting agency to include in a credit report. See section 18 of the Act for a comprehensive listing.

• information about any bankruptcy more than 6 years old;
• information about writs or other court proceedings more than one year after the date of issue if the current status of the action or proceeding is unknown;
• information about any actions, judgments or debts that are barred, by law, from being reported due to the expiration of a limitation period;
• any other unfavorable information more than six years old unless it is voluntarily given by the consumer or otherwise permitted by the Act; or
• any information that has not been confirmed.

Examples of who a credit reporting agency may provide information to, include:

• the consumer who is the subject of the credit report;
• a person who requires the information when a consumer applies for credit, insurance, employment, tenancy or other legitimate business purposes;
• the assignee of an agreement for credit, insurance or tenancy; or
• any federal, provincial or municipal government agency or any police officer acting on behalf of a government agency.

For a comprehensive list see section 17 of the new Act.

Consumers have the right to review their files and to be told whether the information has been given to anyone. If a consumer disagrees with the accuracy or completeness of any information in their credit report, the credit reporting agency must investigate. If the agency determines that the information is incorrect, it must delete or change the information and notify every person given a credit report on that consumer in the previous 6 months.

If the agency determines the file information is correct, the consumer's statement of dispute remains on file, and the agency must then notify all persons given the credit report in the past 6 months of the disputed information.

For more information, contact:

Registrar
Consumer Protection Division
Financial and Consumer Affairs Authority
Suite 500, 1919 Saskatchewan Dr.
Regina, SK S4P 4H2
Phone: (306) 787-5550 Fax: (306) 787-9779
Toll-free: 1-877-880-5550
E-mail: consumerprotection@gov.sk.ca

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