Margins loans and charge cards will be excluded from the proposed Mandatory Comprehensive Credit Reporting regime, draft regulations published yesterday show.These are the two most prominent of five categories of credit facilities that Treasury proposes to carve out from the reporting regime."Margin loans are excluded as they do not lend themselves to regular monthly reporting," Treasury wrote in an explanatory statement accompanying the draft regulations."This is because margin loan transactions depend on the purchase and sale of shares making reporting on margin loans difficult and complicated," the statement said.For charge cards the reasoning is that "regular repayments are not required, making it difficult to report regular repayment obligations of an individual."Comprehensive credit reporting will soon become law in Australia, after many years of on and off debate.The bill to enable this reform, introduced into parliament in March, is still to pass the Senate. The Senate Economics Legislation Committee is due to report today on the proposed law.Two other Senate committees have expressed reservations on aspects of the bill.There are "questions as to the compatibility of the mandatory comprehensive credit reporting scheme with the right to privacy" the Parliamentary Joint Committee on Human Rights concluded in a report in early May.Standing Committee for the Scrutiny of Bills has also requested "justification for leaving key elements of the mandatory credit reporting scheme proposed by the bill—including matters that may have significant impacts on individuals' privacy—[left] to delegated legislation."The latter committee's call for clarity on consultation on regulations is addressed by publication of these draft rules yesterday.