Legal compliance: What are the legal mechanisms upon which consumer credit reporting needs to rely?

As this study has already indicated, specific processes and practices to ensure data protection compliance may vary from country to country, depending on the way the law has been implemented in each Member State, the industrial organisation and institutional structure in place, and also the corporate policy of each lender. However, judging against the above criteria, there are certain features of the consumer credit reporting process which exist throughout the lifecycle of the consumer personal data which should comply with the minimum standards set by Directive 95/46/EC for what the legislation of the Member States must – or at least should – provide.1