The Financial Conduct Authority has published CP26/7 consulting on new Handbook requirements to improve how consumer credit information is shared and used across UK retail lending markets, implementing FCA-led remedies from its Credit Information Market Study. The proposals would require firms that share any in-scope consumer credit information with at least one designated consumer credit reference agency (DCCRA) to share all available consumer credit information on those reportable agreements with all DCCRAs, at least monthly, alongside new requirements on data accuracy, dispute handling and court judgment reporting. The FCA proposes a portfolio-style approach aligned with industry reciprocity principles, rather than an absolute reporting requirement, citing analysis that it would capture around 98% of agreements (96% by value) while avoiding disproportionate burdens on smaller firms that do not currently share with any credit reference agencies. Scope is set by regulated activities and “reportable agreements” across consumer credit and home finance, including debt administration and collecting and certain peer-to-peer lending activities, with business lending and consumer buy-to-let excluded; regulated deferred payment credit would be in scope once it enters the regulatory perimeter from 15 July 2026. The FCA would create a new DCCRA Sourcebook and initially designate Equifax Ltd, Experian Ltd and TransUnion International UK Ltd, supported by non-exhaustive designation factors and restrictions on DCCRAs marketing their designation status; the package also includes a high-level permitted-use requirement tied to “promoting responsible lending”. Additional firm obligations include testing and monitoring data accuracy, correcting errors across all CRAs where the firm has shared inaccurate information, responding to Consumer Credit Act 1974 section 159 disputes raised via CRAs within 14 days (with limited scope for holding responses), and reporting satisfied County Court Judgments and decrees to the courts or Registry Trust as soon as reasonably practicable. Responses are requested by 1 May 2026. The FCA proposes the regime would come into force 12 months after it publishes a final policy statement, with a six-month lead-in for “first-time provider firms” that begin sharing after commencement, and it plans to gather information from DCCRAs via a Financial Services and Markets Act 2000 section 165 request around one year after mandatory reporting takes effect before consulting on any ongoing DCCRA reporting rules.

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