UOKiK will examine creditworthiness assessment mechanisms of banks

The Office of Competition and Consumer Protection (UOKiK) is investigating whether credit scoring methods penalize consumers who compare loan offers from multiple banks. According to UOKiK President Tomasz Chróstny, frequent credit inquiries can lower a consumer's credit score, even if no loan is taken.

This practice may be anti-competitive, discouraging consumers from seeking the best mortgage or loan conditions. Some banks exchange data on customer inquiries, potentially limiting market competition. The investigation aims to determine if this practice coordinated unfairly impacts consumer and mortgage lending.

If violations are found, UOKiK may impose fines up to 10% of company turnover. A leniency program is available for businesses that cooperate and provide evidence of wrongdoing.

(PAP)