| Link(s): | Cost of living consumer credit data collection | FCA Consumer credit data collection FAQs (fca.org.uk) |
Context
The FCA is asking a number of consumer credit firms it regulates to provide data on their credit activities so it can monitor and assess the impact of the rising cost of living on consumers.
Key points to note
- There are around 600 firms taking part providing data, which were selected based on the type and amount of regulated consumer credit activity they are involved in.
- The FCA is requesting the data due to a gap in the existing data it receives, which makes it more difficult for it to effectively assess, monitor and identify key harms emerging from the cost-of-living crisis.
Next actions
None – for information and awareness, and in case any insurance broking firms with consumer credit Permissions receive the request