The FCA has restarted its work on the Credit Information Market Study following a pause during the Covid-19 pandemic. It intends to engage with industry and consumer groups and complete its analysis during Q3 2021, ahead of publishing an interim report in Q1 2022. The study will take account of the Woolard Review recommendations to the FCA.
The study will continue to use the same scope set out in the original Terms of Reference and the FCA’s work will reflect market and regulatory developments relevant to credit information over the last 18 months, including:
- CRA and lenders’ response to the pandemic;
- the impact that the growth in different/ new forms of credit could have on credit information; and
- technological and behavioural changes that may alter the way people interact with their credit information (eg greater uptake of Open Banking).