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Untitled Document
Updated: Download
the APCC brochure.
Who we are:
APCC is comprised of organizations – including
lenders, credit bureaus, and data analytics firms -- committed to
promoting rational consumer credit reporting standards within APEC.
APCC is an affiliate organization of the Political and Economic
Research Council (PERC), a 501(c)3 non-profit public policy research
institution based in Chapel Hill, North Carolina. For more
information about APCC please visit apeccredit.org. For more
information about PERC visit www.infopolicy.org.
Mission statement:
These organizations believe that the responsible use of
robust credit history data and other payment information leads to
optimal credit risk management. Sound credit risk management in turn
increases lending to the private sector, increases economic growth,
broadens and deepens credit access, and protects individuals from
overextension.
In that credit markets are global and lenders are
increasingly global or regional in their focus, it is economically
sensible to have in place regional credit reporting standards based
upon proven principles.
In that APEC represents the largest, wealthiest, and
most dynamic economic region in the world, it is vital not only to
the individual APEC member economies but to the global economy that
credit risk management based on sophisticated decision sciences
become the norm in this region.
The APCC members believe that credit reporting should
be based on the following general principles:
1. Both positive and negative credit and payment data
should be reported to consumer reporting agencies;
2. Recognizing
that the individual is owner of their own credit information,
consumer rights and protections are paramount. As such, the OECD Fair
Information Principles -- including notice, access, choice,
correction, and redress -- should be judiciously applied and shall
serve as the foundation of any regional consumer credit reporting
standard.
3. A private credit bureau and a public credit registry
are complementary to one another and each play distinct and vital
roles in a vital financial services system;
4. Reporting of credit
and payment data should be done on a voluntary and not mandatory
basis;
5. Access to credit and payment data should be universal to
all those with a permissible purpose regardless of whether they
report the type of firm;
What we do:
APCC’s members will work with governments of
individual member economies and the institutions of APEC to develop
and implement sound consumer credit reporting standards.
* Educational seminars with national regulators and
policy makers.
* Outreach to APEC staff
* Press and media
briefings
* Country-specific and regional economic impact
analyses
* Industry executive briefings and outreach
Download
the APCC brochure.
The Asia-Pacific Credit Coalition is made possible
through the participation of our members.
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