Why is the CCR needed?

The Government in Ireland gave a commitment, as part of the EU/IMF Programme of Financial Support, to develop a legal framework that would facilitate the collection and centralisation of credit information on borrowers. The CCR will contribute to consumer protection and financial stability by:

• Providing borrowers with an individual report detailing their credit agreements
• Providing lenders, such as Close Brothers Motor Finance, with comprehensive information to support credit assessments
• Providing the CBI with better insights into financial markets and supporting functions of the Central Bank of Ireland