Credit: Regulation

(asked on 5th December 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps his Department is taking to work with the Financial Conduct Authority to regulate the credit market and stop uninvited credit limit increases by lenders.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 11th December 2017

Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. This includes regular meetings with the Financial Conduct Authority (FCA).

The FCA has carried out an extensive credit card market study that identified concerns about persistent credit card debt. The FCA’s proposed measures to tackle persistent debt include an industry agreement to restrict unsolicited credit limit increases.

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