in
Why does MAS regulate the credit bureaus?
mas
Source: https://www.mas.gov.sgCredit bureaus are organisations that collect, use and disclose information relevant to the credit worthiness of borrowers. As credit bureaus collect detailed borrower credit information from financial institutions, it is prudent to subject them to formal supervisory oversight by the MAS.
Under the Credit Bureau Act 2016, licensed credit bureaus are required to ensure that they take adequate measures to safeguard the confidentiality, security and integrity of sensitive borrower credit information and protect consumers’ interests.
This information provided here is sourced from the MAS website.
Let other citizens know if this answer was helpful
Did this answer your question?Related Questions
Can MAS direct a licensed credit bureau to amend the records in my credit report, such as shortening the data retention period?
from MASCan I seek MAS' assistance to direct the licensed credit bureau to amend my credit score?
from MASThere are errors in my credit reports. Can I seek MAS' assistance to amend or delete the erroneous records?
from MASDoes MAS operate any credit bureau?
from MAS
Can’t find what you’re looking for?