Credit reporting: Interim Working Group (IWG)

The Interim Working Group (IWG) aims to produce recommendations to the FCA on the new Credit Reporting Governance Body. Find out more about this work.

Background and launch

The Credit Information Market Study (CIMS) Final Report sets out measures to achieve the FCA’s vision for the market and deliver better outcomes for consumers and firms.

The report found that the current industry governance arrangements, the Steering Committee on Reciprocity (SCOR), was ineffective at driving forward change, representing views from a range of stakeholders, prioritising consumer outcomes and acting transparently. Therefore, the CIMS final report set out that a new, more representative and accountable industry body to oversee arrangements about sharing of credit information should be formed - the Credit Reporting Governance Body (CRGB).

To assist with the development of the new governance framework, The FCA, with industry, has formed the Interim Working Group (IWG), to help develop the new governance arrangements in the credit information market. The IWG will produce recommendations to the FCA on the design, implementation, and operation of the new CRGB. The IWG is temporary and advisory only. 

It was formally launched in January 2024 and will provisionally run for up to 9 months.

IWG Chair 

Following a competitive selection process with a diverse interview panel consisting of representatives from the IWG and the FCA, we are appointing Jackie Keogh as the independent chair of the IWG. Jackie joined the FCA in 2020 as a Senior Advisor after 32 years in the financial industry, mostly in corporate banking. She will step down from the Senior Advisor role before taking on the position of the IWG Chair.

IWG membership

See the IWG’s representatives and alternates, and their biographies.

The members of the IWG either volunteered or were nominated by industry. They were appointed by the FCA to deliver a balanced representation from across the financial services credit information industry.

The IWG includes representatives from:

  • alternative finance providers
  • challenger Credit Reference Agencies (CRAs)
  • consumer groups
  • Credit Information Service Providers (CISPs)
  • large CRAs
  • trade associations (whose members and users are suppliers of credit information and are mainstream credit providers, or small and specialist lenders)

IWG representatives have a responsibility to seek and incorporate views from the cohorts they represent. 

Read the IWG’s Terms of Reference.

IWG reports

News from the IWG

Group meetings – discussions and actions

Contact the IWG 

If you wish to contribute to the IWG’s work, you can contact [email protected] with your name, organisation and contact details. State your relevant representative and area, and any IWG topics of interest.

Frequently Asked Questions

Page updates

: Information added 30 May group meeting
: Information added 9 May 2024 group meeting
: Information added 11 April 2024 group meeting
: Information added Report One published
: Information added Reflections on the IWG’s first data user and contributor event
: Information added Adding minutes from meeting on 14 March 2024
: Information added Frequently Asked Questions
: Information added 8 February 2024 group meeting
: Information added 18 January 2024 group meeting