For decades, Option consommateurs has observed that the public encounters a wide range of difficulties with credit agencies. While Bill 53 provides some interesting solutions for consumers, it does not address all of these problems.
First of all, we find it inconceivable that the bill would allow credit agencies to charge fees to benefit from the protection measures it introduces. We believe that Quebec should have a legal framework as rigorous as that of the United States, where the law provides that the security freeze is free of charge. Similarly, the security freeze should apply, by default, to all types of credit file requests, not just those relating to credit contracts.
Secondly, Bill 53 does not solve all consumers' problems with access to their credit information. In the digital age, it's unacceptable that credit agencies can still require consumers to mail in a paper form to obtain a free copy of their credit report. We demand that consumers be able to access their credit file online, free of charge. Similarly, access to the credit score provided for in the bill should be extended to any type of score generated from the credit file.
The mediation introduced by the bill suggests a rapid, informal mechanism for resolving disputes between consumers and credit agencies. However, we propose broadening the scope of third parties who can be involved, given that other types of companies than financial institutions can make entries on credit files. We also regret that the bill will not help to facilitate legal recourse for consumers, which is often cumbersome and complex.
We welcome the provisions forcing credit agencies to adopt sound business practices and follow appropriate management practices. However, we regret that the legislator did not go further, by regulating the secondary uses of credit reports in the fields of insurance, employment and housing rental. At the very least, we feel that the law should be amended to better inform consumers about these practices.
Finally, we propose that a major Quebec-wide study be conducted on the accuracy of credit files. We also propose that the government support public education activities on the credit reporting system.
