Jump to content


Sign in to follow this  
ukaviator

New regulator to collect and share mortgage borrowers' personal data

style="text-align:center;"> Please note that this topic has not had any new posts for the last 2351 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

The new Financial Conduct Authority will collect and share information from mortgage borrowers that may have data protection implications, it has emerged.

 

The regulator will share personal data with the Bank of England, and its sister organisation, the Prudential Regulation Authority. The FCA wants to harvest large amounts of data about existing and new mortgages, including information on childcare commitments and outstanding loans and credit card bills. The data will also include each borrowers' income, including bonuses and overtime pay.

 

The enhanced data requirements were contained in proposals published this week. The FCA says it needs the data to "monitor and supervise conduct in the mortgage market" and to help it to make "quicker, bolder decisions". The FCA acknowledged in the paper that the changes will bring both the data protection act and the human rights act into play. "There will potentially be instances where we share information with law enforcement agencies in relation to suspected mortgage fraud, although these instances are likely to be limited in nature," the paper states. It adds that the "collection of the data is necessary to achieve the aims set out in this consultation paper, and any interference with the right is proportionate to those aims".

 

Link: http://www.telegraph.co.uk/finance/personalfinance/10062273/FCA-regulator-to-collect-and-share-mortgage-borrowers-personal-data.html


Some useful links.

FAQ's

Making Posts

Letter Template Library

Bank Contact Details

AQ Guide to Completion

Court Fees

Data Protection non Compliance

Witness Statements for Court Bundle

Banking Code Website

Limitations Act

Fast Track Costs

A-Z Index

Mis-Claim Tutorial

Step By Step Instructions

 

Remember: The Ark was built by amateurs-The Titanic by professionals.

 

Please click my scales if you find my advice helpful !

 

If your claim is successful, please donate 5% so that it can continue to help others.

 

Your decisions and actions are your own, and should you be in any doubt, please seek qualified professional legal Help.

 

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

 

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

YOU CAN NOW COMPLAIN TO THE OFT ABOUT THEIR CONDUCT UNDER THE CONSUMER PROTECTION FROM UNFAIR TRADING REGULATIONS 2008.

Share this post


Link to post
Share on other sites
Sign in to follow this  

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...