Credit: Interest Rates
Commons · Question 64757 · Tabled 3 Jul 2025 · Treasury · Official record
Answered 9 Jul 2025
Question
Asked by Wendy Morton
To ask the Chancellor of the Exchequer, what steps she is taking to reduce the number of households relying on high-cost credit to meet living expenses.
Answer
Answered by Emma Reynolds, 9 Jul 2025
The Financial Conduct Authority (FCA) is responsible for regulating the consumer credit sector. The FCA requires firms to carry out an assessment of the creditworthiness of a prospective borrower before entering into a regulated credit agreement with them...