February 2017
Bank Warned For Loan Data Quality Errors
Carrefour Banque allegedly provided out-of-date loan default information to the Fichier national des Incidents de Remboursement des Crédits aux Particuliers (FICP – essentially the nations credit reporting bureau). An error in reporting was identified in 2012, but Carrefour Banque allegedly failed to take full corrective action until the CNIL opened an investigation in 2015. As a result, some 38,329 people could have been denied credit or received less favorable lending terms. Although 32,685 individuals that were incorrectly reported had been removed from the list (paid off loans or expired off the list), some 5,644 people were still incorrectly active on the list. Carrefour Banque did implement corrective measures as a result of the CNIL investigation, however, given the delay of several years in addressing the problem, the CNIL decided to make public its investigation, and issue a formal warning.
https://www.cnil.fr/fr/fichier-des-incidents-de-credit-avertissement-carrefour-banque-pour-inexactitude-des-donnees-du-ficp
jbho: a reminder of the importance of good data hygiene. In addition to harms of failing to qualify for credit, errors like this can lead to litigation (e.g., FDCPA, TCPA, etc.) as collectors reach out to individuals that likely shouldn’t be on call lists in the first place.
And for you RTBF fans – per the warning, the investigation and decision will be anonymized after two years. https://www.legifrance.gouv.fr/affichCnil.do?oldAction=rechExpCnil&id=CNILTEXT000033954589&fastReqId=1725216049&fastPos=1 (regardez en bas du page)