As is well known, Schufa is involved in forecasting, but you really didn’t have to be an expert on the future to predict the ruling from Luxembourg. The Advocate General’s report, but above all the consistently strict course of the European Court of Justice in data protection, suggested that things would likely be tight for the credit agency with its treasure trove of data from 68 million citizens. That’s how it happened, the verdict was extremely strict, or very data protection-friendly if you look at the other side. The very last word has not yet been spoken, first an administrative court must implement the ECJ’s requirements, after which the legislature will probably explore whether a new legal basis can be created for Schufa’s business model. But it is already clear that the ruling will mean a major blow to the credit forecasting business.
ECJ sets strict requirements for Schufa – Economy
