Banks to report credit card data to CICs biweekly
October 23rd, 2024
Credit institutions and credit information companies are now required to regularly update the customer credit data they collect and maintain every two weeks.
Updates are scheduled for the 15th and the last day of each month, but can occur more frequently if both parties agree.
Credit institutions must submit this fortnightly credit information to credit information companies within seven working days after the end of each reporting period.
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Dominic Maley
Dominic Maley is an American journalist recognized for his sharp and insightful reporting on social and political issues. His work is known for its depth, integrity, and the ability to highlight critical societal concerns.