Central Credit Register - Update (May 2018)

In our February briefing, we considered the Credit Report Act 2013 (the "Act") and in particular the commencement of Phase Two credit reporting by lenders.

Markets in Financial Institutions Bill 2018 was presented to the Dáil on 11 April 2018 (the "Bill"). The Bill proposes to amend the definition of "credit" in the Act.

As noted in our February briefing, the following were not considered "credit" for the purpose of the Act:

• intra-group credit; inter-bank lending;
• credit provided by an employer only to its employees;
• in connection with the provision of utilities;
• credit for facilitating the purchase of goods or services from the person by whom the credit is provided; and