CP26/7: Credit Information Market Study: Proposed approach to implementing FCA remedies

Read CP26/7 (PDF)

Why we are consulting

Our proposals include a mandatory reporting requirement for firms in the credit and mortgage markets and connected obligations to create a regulatory framework for how credit information is shared and used across these markets.

This aims to make consumer credit information more consistent and comprehensive across Designated Consumer Credit Reference Agencies (DCCRAs) and to improve the accuracy of information shared.
The proposals in this consultation form part of the wider programme of remedies set out in our Credit Information Market Study Final Report (MS19/1).

This consultation focuses on remedies 2A and 2D and also sets out our proposed next steps for remedies 2C and 3A.

Who this is for

• Firms involved in consumer credit and mortgage activities
• Credit reference agencies (CRAs) and credit information service providers
• Firms that share credit information with CRAs
• Trade bodies and industry associations
• Consumer groups
• Organisations with an interest in credit information
• Gibraltar-based consumer credit and mortgage lenders

Next steps

Send us your views on our proposals by 1 May 2026.

Online response form

Please respond using our online response form or by emailing: [email protected].

Alternatively, you can write to: Consumer Finance Policy Team, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN.

Background

Consumer credit information is an important part of a modern credit market, contributing to the UK economy and its sustainable growth. The coverage and quality of credit information can significantly influence how regulated products are accessed, priced and managed.

In December 2023 we published our Credit Information Market Study Final Report (MS19/1). This set out a package of remedies to improve the credit information market, including proposed new FCA rules and guidance alongside reforms to industry governance arrangements and other industry-led remedies. This consultation focuses on the FCA-led remedies.