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New UK consumer credit return aimed at streamlining reporting duties

( May 7, 2025, 14:44 GMT | Official Statement) -- MLex Summary: The UK financial markets watchdog has introduced a new "consumer credit return" to replace consumer credit data reports, streamlining data collection processes and lightening the burden on financial firms. Helped by industry engagement with a consultation, the new return removes 28 percent of the questions initially proposed, the Financial Conduct Authority said. It has also put work on consumer credit data on pause in order to replace remaining returns to give firms more time to implement changes and assess the impact and value of new returns. Statement below, policy statement attached. ...

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