Misuse of credit rating barring access to loans

CBK governor Patrick Njoroge. PHOTO | DIANA NGILA | NMG

Misuse of credit reference bureaus (CRB) reports has negatively affected the information sharing mechanism and often served to hinder credit access, the Central Bank of Kenya (CBK) has said.

Some banks and bureaus have in the past been on the spotlight for sharing erroneous records or failing to provide up-to-date information even after defaulters pay up.

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