Member Work Groups

The Data Standards Work Group includes representatives from Members, PRDE Signatories and Arca staff, and is the focal point for the management and ongoing development of the Australian Credit Reporting Data Standard. This work group acts as a forum for discussing operational ACRDS matters to assure a common understanding of the ACRDS amongst users, for implementation guidance and solving technical issues in data supply and validation. The workgroup also considers prospective compliance changes and shifts in consumer credit industry practices that may require alteration of the credit reporting standards.

The Policy Work Group deals with a variety of policy and industry issues, for example, guidance on ‘reasonable timeframe for disclosure of default information,’ disclosure of guarantor information, issues arising from AFCA disputes as well as practical solutions to policy or compliance issues, and issues requiring clarification, guidance or reform. This group includes compliance, regulatory affairs or risk representatives who discuss policy-type issues arising from the Privacy Act, and CR Code as well as the National Credit Code and the PRDE.

The Consumer Data Right Work Group is for credit providers who will use data accessed through Consumer Data Right and CRBs who will act as intermediaries. This work group provides input into Arca’s submissions to the Consumer Data Right/Open Banking reforms and helps to develop standardised consents and responsible lending use cases for the Consumer Data Right data.

The Responsible Lending Work Group has informed and directed our work on responsible lending. This has included the redrafting of RG209, the ongoing development of AFCA’s Approach to Responsible Lending, and our ongoing engagement with ASIC, APRA and AFCA. The work of this group involves identifying issues and developing industry led approaches that can then be shared with the relevant regulators – in doing so, the work group aims to take control of the responsible lending issues that lenders face.

The Consumer Communications Work Group plays a role in Arca's CreditSmart® consumer education driver by ensuring clear and consistent industry messaging regarding credit reporting in Australia. They take charge of promoting CreditSmart both to external customers and within their own organisations, proactively soliciting input from internal stakeholders to guarantee uniformity and support. Their objective is to educate and aid customers in comprehending comprehensive credit reporting and maintaining good credit health across all customer interactions.

CreditSmart.org.au serves as a trusted resource for Arca Members to direct their customers, offering information on various credit reporting topics to empower individuals in effectively managing their credit health. The group also collaborates on industry-led communication approaches, sharing challenges and discussing ideas when necessary.

The Best Practice Work Group is for Members to share challenges, discuss ideas, better understand best practices in data supply and consumption, and develop industry led approaches where appropriate.  This workgroup will also be used to provide feedback and progress the data quality and consistency agenda, including RHI reporting, CCLI reporting, and broader issues.

The Hardship Implementation Work Group provides a forum to share experiences in the transition to hardship reporting, form common understanding of underlying use principles, and support Members educating internal teams and customers.