However, it is learnt that the data submitted to the CICs by member credit institutions is not regular or accurate. There are many instances of junk values, incorrect data and incomplete identifier field information being submitted to the bureaus. It becomes imperative for credit institutions to ensure the quality and timeliness of data submitted to the CICs. 14.
An important task for public policy will be to shape that outcome – remove some of the unknowns – for the benefit of everyone. On the heels of the global financial crisis and the Great Recession, one element of that task is to restore trust in markets, particularly financial markets.