The Hong Kong Monetary Authority has submitted a proposal to the Privacy Commission which would permit banks to know how many credit cards a customer has. The Privacy Commission had suggested banks should only provide negative credit information to credit reference agencies, but it recommended that information such as how many credit cards a client holds should be withheld. Monetary authority executive director Raymond Li said the move would help reduce bad debts. He said the authority had submitted the suggestion to Hong Kong's Privacy Commission for consideration.
