In Kenya, we have three CRBs; all licensed for operation and regulated by the Central Bank of Kenya namely;
1. CreditInfo CRB
2. Metropol CRB
3. Transunion Kenya CRB
A borrower should constantly check their credit report to verify that the information contained in the report is correct. If there is information that is not correct in the report, a borrower has a legal right to dispute the information. To lodge a dispute:
- The borrower should contact the CRB from which he/she obtained the report. The CRB will issue the borrower with a form through which he/she can highlight the erroneous information
- The CRB contacts the lending institution that provided the data to confirm the correctness of the information under dispute
- The lending institution is required to investigate and respond within fourteen days confirming either
- The information is correct and thus should remain as is;
- The information is erroneouss and thus should be deleted; or
- The information is not up-to-date, and send in the correct and up-to-date status.
- If a borrower is not content with the outcome, he/she is allowed to append a summary of the dispute which remains appended on the credit report.
CIS Kenya runs an independent Alternative Dispute Resolution Center (known as Tatua Center) that exclusively deals with CRB-Related disputes. Aggrieved borrowers can access the services of Tatua Center free of charge.