Why is the CCR relevant to Close Brothers Motor Finance?

Following an amendment to the Credit Reporting Act 2013, data on hire purchase, leasing and other credit agreements previously excluded from the scope of the CCR, is now reportable. Close Brothers Motor Finance now have a legal obligation to report credit agreements, where the principal amount of the credit agreed to be provided is €500 or greater, to the CCR. Therefore if you have a credit agreement with Close Brothers Motor Finance, your credit agreement and details will be reported to the CCR.

Further, where a customer makes a credit application of €2,000 or more, Close Brothers Motor Finance will have a duty to make an enquiry to the CCR in respect of that customer prior to making a decision whether to grant the credit.