Major banks are plotting to restrict access to data in consumer credit reports that non-bank lenders rely on to assess loans, a move that would smash the ability of many fintechs to accurately price credit and wipe out some players, according to four ASX-listed competitors to the big banks.

Proposed changes to the Credit Reporting Code are anticompetitive and should be halted by the Office of the Australian Information Commissioner (OAIC), which is reviewing the measures, says a submission from the four companies – Plenti, MoneyMe, Harmoney and Wisr – seen by The Australian Financial Review.