FLA response to FCA proposals for the credit information market

Commenting on the Financial Conduct Authority’s proposals on the operation of the credit information market, Fiona Hoyle, Director of Consumer and Mortgage Finance said:

“Lenders rely on the information provided by CRAs, so we are keen to see improvements that would enable the system to work better for our members and their customers.

“Good governance is the basis for sound operation. In a highly specialised area like the provision of credit information, having an industry-led solution is a good approach. We look forward to playing our part in the development of a new representative body.”

Note to editors:

1. In 2021, FLA members provided £132 billion of new finance to UK businesses and households.  £31 billion of finance was provided to businesses and the public sector. FLA members financed more than a third of UK investment in machinery, equipment and purchased software in the UK in 2021.
2. For media enquiries, please contact the FLA press office on 020 7420 9656.