This morning, the FCA has published a Call for Input: Review into change and innovation in the unsecured credit market (The Woolard Review).
The call for input revolves around, and asks questions specific to, the following key themes:
Key Theme 1 – Drivers and use of credit (looking at who is using credit, how’s it’s marketed, impact of big data, trends and challenges, drivers behind demand and who struggles to access it).
Theme 2 – Change and Innovation in the supply of credit (discussing change, innovation and growth, pressures and challenges, new business models, unregulated credit or credit-like products, gaps in supply and the FCA’s role).
Theme 3 – The role of regulation in unsecured credit markets (querying how current regulation affects consumer behaviours, firm incentives and effects of gaps in data).
Theme 4 – The impact of Covid-19 and the FCA’s response
The FCA are asking for comments before 1 December 2020 – you can respond by completing this form.