Gaps in borrowers’ credit files could be closed under FCA proposals

Gaps in borrowers’ credit files could be closed under FCA proposals

The plans could help remove some barriers people face to accessing credit and reduce the risks of unaffordable lending or fraud.

FCA moves to close UK credit file gaps

The Financial Conduct Authority (FCA) has unveiled proposals aimed at tightening information-sharing rules between lenders and credit reference agencies, in a move designed to address gaps in consumer credit files and strengthen lending decisions across the UK. Under the consultation, lenders that provide borrower data to one designated consumer credit reference agency (CRA) would be required to share the same information with all designated CRA…

FCA proposes action to close gaps in borrowers’ credit files - Credit Connect

Lenders could have access to more comprehensive information to support lending decisions, under new proposals by the Financial Conduct Authority (FCA).

FCA proposes to close gaps in borrowers' credit files

The Financial Conduct Authority has set out new proposals to give lenders access to more comprehensive information to support lending decisions. The FCA aims to close gaps in borrowers’ credit files and ensure these more accurately reflect people’s financial circumstances. Credit reference agencies collect personal… The post FCA proposes to close gaps in borrowers’ credit files appeared first on Mortgage Finance Gazette.

FCA sets out plans to close gaps in borrowers' credit files

The Financial Conduct Authority has set out new proposals to give lenders access to more comprehensive information to support lending decisions. The FCA

FCA Strengthens Borrowers' Credit Files With New Guidelines - Fintech InShorts: Latest Fintech News, Analysis By Experts

UK regulator targets improved credit reporting for consumers. Highlights: FCA issues new guidelines for clearer credit reporting. Guidelines aim to improve the accuracy of borrowers’ credit files. Consumers can benefit from enhanced credit information access. The Financial Conduct Authority (FCA) has announced new guidelines aimed at improving the accuracy and completeness of borrowers’ credit files in the UK. These guidelines are designed to a…