CP15/33: Response form

We are asking for comments on this Consultation Paper by 28 January 2016.

Please use the form below or alternatively, please send comments in writing to:

Anna Solar-Bassett
Consumer Credit Policy Team
Strategy & Competition Division
Financial Conduct Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Email: [email protected]

We make all responses to formal consultation available for public inspection unless the respondent requests otherwise. We will not regard a standard confidentiality statement in an email message as a request for non-disclosure.

Despite this, we may be asked to disclose a confidential response under the Freedom of Information Act 2000. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by the Information Commissioner and the Information Rights Tribunal.

Note: You can take a printout of your response before clicking the 'Submit to FCA' button at the end of the form, but this will only print the visible text on screen, and you may have given longer answers. After submitting your response, the form will clear, but when we acknowledge receipt of your response by email, we can return to you a copy of your full submission as received. Check this box if you would like to have a copy of your submission returned:

Submission Details

as an individual
as a representative of an authorised firm
as a representative of a professional firm
other (please specify):
Q1

Do you have any comments on on the proposed application of our rules for price comparison websites (PCWs) comparing high-cost short-term credit (HCSTC) products?

 

Q2

Do you agree with our proposal to prevent PCWs from displaying information about HCSTC products or including search results on the basis of commercial relationships?

 

Q3

Do you have any comments on our proposed rule that a PCW for HCSTC should enable customers to search for a specified loan amount and duration?

 

Q4

Do you agree with our proposal to require HCSTC PCWs to rank the results of a consumer’s search in ascending order of price according to the total amount payable?

 

Q5

Do you agree with our proposals on additional advertising on a PCW that compares HCSTC?

 

Q6

Do you agree with our proposed approach to clarify that PCWs must ensure that information concerning HCSTC products complies with the requirement to state prominently that they are a broker and not a lender?

 

Q7

Do you agree with our proposed approach to require PCWs to disclose the names of lenders they have on their website?

 

Q8

Do you have any comments on the proposed start date?

 

Q9

Do you have any comments on our proposed approach to lead generators?

 

Q10

In light of our findings, do you have any views on the effectiveness of disclosure about credit checks?

 

Q11

Do you wish to comment on the value of quotation searches in addressing the issues raised by the Competition and Markets Authority (CMA)? Are there specific issues or risks with the use of quotation searches across consumer credit markets?

 

Q12

Do you have any comments on our approach to real-time data sharing?

 

Q13

Do you have any comments on our proposed approach to disclosure of the cost of borrowing?

 

Q14

Do you have any comments on our cost benefit analysis?

 

Q15

Do you agree with our assessment of the impacts of our proposals on the protected groups? Are there any other groups we should consider?