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We continue to manage issues around credit data sharing, with a particular focus on the FCA’s Credit Information Market Study (CIMS), where the interim report is now expected in the summer of 2022 following the latest update from the FCA. Related FCA work around forbearance will also feed into CIMS.
We are actively involved with the consumer credit information governance group, the Steering Committee on Reciprocity (SCOR), to ensure that members’ data is being used in accordance with established rules and principles. With an increased focus on data privacy issues, we facilitate discussions between members’ credit and privacy subject matter experts to ensure appropriate consideration/ governance over requests to use credit data for any new purposes. Current areas of focus include working with the credit reference agencies (CRAs), SCOR and other trade associations to agree the detail in respect of new data from the Buy now, Pay later sector.