- Obligatory notification to customers upon changes of individual credit rating
- Ban forced purchase of products using corporate credit rating assessment
- Strengthen verification measures upon subion of the website of CB

Measures are promoted to improve institutions to protect customers' rights on credit information by obliging that information holder be notified changes of individual credit rating and stipulating checking items against an applicant for the subion contract (paid) of the website of CB.

The Anti-Corruption and Civil Rights Commission (ACRC) announced that it recommended that the Financial Services Commission, responsible for the credit information business sector, reform institutions and practices that have been indicated as problems to enhance fairness of the credit inquiry and rating process and to prevent customers' damage.

Measures to improve institutions include the obligation to notify information holders of any change to credit rating that CB has assessed.

The purpose is to prevent customers from suffering disadvantages because they do not recognize easily changes of their credit rating—one of important standards in a variety of business transactions, e.g. financial transactions.

The ACRC also made it obligatory that when CB concludes a web-based contract to provide credit information, it should stipulate items that must be checked against the other party of the contract, to prevent possible damage, e.g. stealth and illegal use of credit information, due to poor examination of the party.

In addition, the ACRC recommended adopting a regulation that would "prohibit CB from forcing customers to purchase products and services of CB or its subsidiaries."

The purpose is to apply regulations to CB as well that have been applied to credit ratings companies only under the relevant laws, considering a company that needs a certificate of corporate credit rating finds it difficult to deny unfair demands of a credit ratings company.

The ACRC recommended that institutions be supplemented by including positive information for evaluation criteria upon determining an entity's credit rating, which mainly consists of negative information.

The purpose is to reduce difficulties in upgrading credit rating--restoration of credit rating—that arise from credit assessment based on limited and negative information, e.g. delinquency and records of credit inquiry as well as to resolve the excessive influence of records of credit inquiry.

On top of that, the ACRC recommended that provision of information be notified to information holders after the event if this occurs without consent of the holders; measures be drawn up to verify regulations of CB's internal management that directly affects customers; and measures be prepared by the credit ratings industry on their own to self-control their business activities.

An official of the ACRC mentioned about the recommendation to improve institutions: "Given the range continues to be extended where credit information can be used and the significance of 'credit' becomes bigger, the improved institutions will be expected to help enhance fairness of the credit information market and minimize customers' damage."