Credit

HM Treasury written question – answered on 12th December 2017.

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Photo of Paul Blomfield Paul Blomfield Shadow Minister (Exiting the European Union)

To ask Mr Chancellor of the Exchequer, what steps his Department is taking to ensure that consumers are protected from unsolicited increases in credit limits.

Photo of Steve Barclay Steve Barclay The Economic Secretary to the Treasury

The regulation of consumer credit is a matter for the Financial Conduct Authority (FCA).

The FCA has carried out an extensive credit card market study which 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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