The remaining three Big Four banks are reportedly getting ready to join NAB as participants in the new CCR regime. This means a massive database will share their customers' full credit history with each other for the first time from the end of this month, at which point comprehensive credit reporting will be a foregone conclusion with the remaining major banks. The new data-sharing regime will allow lenders to better verify loan applications and assess credit risk by accessing the full repayment history of a potential customer, including their total debts.  The major lenders have pushed ahead with the changes following pressure from the prudential regulator, The Australian reported, noting that ANZ said it had been testing positive data reporting since the end of June, although the data was not shared with the public at this stage.The big banks' embrace of the new regime would put pressure on others to sign up, since only lenders who supplied comprehensive reporting to the credit bureaus would have access to the data, Australian Retail Credit Association chairman Mike Laing told The Australian."If they don't join then the people who intend to borrow money but not pay it back will quickly find out which ones are not in the system and they'll go to the lenders who don't have access to verifiable data. So it's risky for a lender not to take part once most of the data is in there," Laing said.Citibank, HSBC and a number of fintechs such as Moneyplace and Ratesetter have already signed up to the new rules, with others such as industry super fund-owned bank ME reportedly working to participate in CCR as soon as possible. ME bank is currently testing its data sharing capability.ME's chief risk officer, Carlo Cataldo, said the success of CCR relies on everyone sharing and today's announcement means we'll have the critical mass CCR needs."It's understandable that some larger institutions have been reluctant to participate, given the competitive advantages access to data provides."But a successfully operating CCR will ultimately improve competition among banks and will have broader economic and consumer benefits. "CCR helps all banks, including ME, provide better service to market segments, which were previously unavailable through limited access to data," Cataldo said.