Unsecured Consumer Credit

The regulatory and legislative environment governing the provision of regulated credit products to Consumers is significant, highly complex and constantly evolving to support the choices Consumers make to access credit to help smooth their payments and better manage their finances.

The Unsecured Consumer Credit team at UK Finance supports members by providing advocacy on all aspects of the credit lifecycle of established credit products, such as consumer credit cards, personal loans, and overdrafts and considers the impact of emerging legislation on unregulated products such as embedded finance. Our purview covers the entire customer journey from acquisition through to the support members provide to customers who fall into arrears and engage with not-for-profit debt advisors.

At UK Finance, we help shape industry direction on policy matters and help our members navigate through the complex legislative and regulatory landscape to deliver changes – our expert team provides regular and timely insight and analysis. We also provide support where a common issue requires a collective industry approach, such as through the pandemic and the more recent cost-of-living challenges.

The Unsecured Consumer Credit priorities, as agreed by our Product & Service Board, continue to track our core activity around credit, debt management and credit data sharing. Our activity in relation to each of these matters is guided by the purpose statement, agreed to by our members to support their businesses and deliver good outcomes for consumers, which aligns to a key overarching priority for UK Finance.

For payment-related issues please refer to our Payments colleagues