From 1 March 2013, small amount lenders will be required to undertake additional assessments of borrowers in accordance with the NCCP Enhancement Act for an offer of credit or an increase in credit limits – and in particular, assessment of previous lending relationships held by borrowers with small amount lenders. Veda’s enhanced credit report will assist lenders meet these new requirements without onerous changes to their systems and processes, as many lenders already access credit reports as part of their underwriting and responsible lending procedures.

Source:  Veda Advantage –  A member of BIIA