THE IRISH CREDIT Bureau says it has corrected inaccurate personal data that it was sent by AIB over a six-year period.
The ICB was informed six weeks ago that the bank had misreported information regarding the missed loan repayments of some 12,000 customers.
AIB admitted the mistake may have affected the credit rating of some customers, and said all of those affected had been contacted and informed of the error.
Deputy Commissioner Gary Davis told RTÉ News that some customers impacted by the mistake, who may have been refused credit as a result, could have grounds to resubmit their application.
The Office of the Data Protection Commissioner described the incident as a breach at the “upper end” of the scale of data protection laws and also expressed disappointment that it took six weeks for the problem to be fixed once it was highlighted. The Office urged every customer affected to obtain an up-to-date copy of their credit report.
Speaking on the matter, Fianna Fáil Finance Spokesperson Michael McGrath said: “The bottom line here is that, because of a serious mistake by AIB, the ICB has been holding incorrect information on file for up to 12,000 bank customers since 2006. This could potentially have affected credit decisions made by financial institutions relying on the accuracy of the information held by the ICB. In some cases, people may have been denied credit based on the details held on file by the ICB. In addition, people may well have paid for the details on their credit report and have been given incorrect information.”
“I believe AIB and the ICB need to clarify what possible implications this incorrect reporting of their credit history could have had for the 12,000 customers affected… Customers should be aware that all records remain on the ICB database for 5 years even after the loan or account has been closed.”
McGrath added that more than 140 lending institutions register information with the ICB concerning customers’ repayment record, and said customers “need to be reassured that other institutions have not made the same mistake as AIB”. He called on AIB and the ICB to make a statement providing more information on the impact of all of this on customers.
A helpline has been set up for those affected by the AIB error (the number is provided in the letters sent out to customers).