Judicial Law Views Quarterly (Law Views)

Government seeks to manage every aspects of society including financial affairs, in order to exercise its sovereignty. This management requires keeping and using financial information of citizens which is used in process of credit scoring. On the other hand, financial information of people is known as a part of their privacy and cannot been breached without legal permission, so that legal principles and Constitution is violated. Therefore, explanation of legal foundations of credit scoring will illustrate possibility of establishing such an entity, its competences, manner in which information is released and its validity.
This article try to study legal rules and documents in order to understand legal foundations of credit scoring process.
Finally, the result is that according to the principle of legality of public affairs and need for protecting privacy of people, only law is entitled to establish and define the nature of this entity and it appears that establishing a government institution is the best choice. In addition to the law, consent of individuals and entities is capable to legalize the process of rendering information to credit scoring bureaus and obliging people render this information to credit institutions.