Privacy Commissioner John Edwards has released a discussion paper inviting submissions on whether "positive credit reporting", introduced to New Zealand following a law change five years ago, has been a success and whether the law is operating satisfactorily. 

Positive credit reporting displays more complete information about an individual's credit commitments, including details of all their borrowings and whether he or she made the payments due each month.

Previously, the credit reporting system only showed when individuals had defaulted on their credit obligations.

While a positive reporting system intrudes more into individuals' private financial affairs than a negative reporting system, this trade-off was justified by claims that it would bring substantial benefits to the credit system, the economy and individuals.

"I am looking forward to receiving real evidence from the credit industry to support the claims that more intrusive positive credit reporting system brings benefits for all New Zealanders" Mr Edwards says.

The deadline for submissions to the review is 16 December 2016.