Czech Credit Bureau

Doubts about the Czech Credit Bureau (CCB) have existed since its beginning. Euro reported that when CCB won the Bank Association contract to set up a rating program, the head of the tender committee was Pavel Finger. Now he's the head of CCB. Another person who has resurfaced is ex-Prague City Councilor Filip Dvořák. He's a vice chair at the Prague Chamber of Commerce, which has launched a credit-rating program with CCB for small and midsize firms. Dvořák was forced off the city council a year ago by a corruption scandal. He was known as ODS's fixer at city hall. Now he's helping to oversee credit ratings, which are a key factor in a bank's decision to lend money. A rating report is useful if it accurately reflects the borrower's financial position. If it's based on back- scratching or palm-greasing, though, it's just another way to rob a bank.