Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, with reference to his Department's consultation on enforcing guarantor loans, GC16/2, published in February 2016, whether his Department has received representations from the (a) Financial Conduct Authority (FCA) and (b) any other organisation on the consistency of the FCA's proposed interpretation of the word enforce in section 87(1)(e) of the Consumer Credit Act.

These are matters for the Financial Conduct Authority (FCA) and relate to FCA Guidance Consultation (GC16/2) issued on the interpretation of provisions in the Consumer Credit Act 1974, regarding whether a default notice should be given to a guarantor before payment is taken from them when a borrower defaults. The FCA is currently considering responses to the consultation and will publish a response after considering the complex issues raised.