MS19/1: Credit Information Market Study

Terms of reference
Feedback period closes
Interim report
Spring 2020

We have launched our Credit Information Market Study and published our Terms of Reference.

Read MS19/1.1 Terms of Reference (PDF)

Any views on the Terms of Reference should be sent to [email protected] by the end of July.

Our market study

Credit information plays a critical role in many markets. It can impact consumers’ access to a range of financial services (including mortgages, loans and credit cards) and in some cases the price they pay for them. This is significant as, according to the FCA Financial Lives Survey, nearly 4 in 5 adults hold at least one credit or loan product. Furthermore, those vulnerable customers for whom a lender’s decision is more finely balanced are most likely to be affected if the credit information market is not working well.

The market study will focus on the following themes:

  • the purpose, quality and accessibility of credit information
  • market structure, business models and competition
  • consumers’ engagement and understanding of credit information and how it impacts their behaviour

In exploring these themes, the market study will assess how the sector is working now and how it may develop in the future.

How you can get involved

We’re setting up a group of experts to explore how the credit information market might evolve in the future. We’d like representatives from diverse backgrounds, including consumer groups, academia, industry, policy making and technology. 

If you’d like to participate or nominate a member, please email [email protected] including name, email address and a brief explanation to outline your/their expertise and suitability. 

Next steps

We will begin to gather information from credit reference agencies, data contributors, providers of credit information services, users of credit information, and consumer organisations.

We will report on our preliminary conclusions in Spring 2020 including, if appropriate, a discussion of potential remedies.