Information from payday loan providers
The FCA data comprise loan-level records for applications to U.K. payday loan providers from January 1, 2012, to December 31, 2013, including first-time and perform applications. The data includes records of successful loan applications and loan performance (including information on default and late payments) for thirty-seven lenders operating in the payday loan market, who together constitute 99% of the total market by loan volume. Within these loan providers, additional information ended up being collected for eleven big loan providers whom together constitute roughly 90% of this market by loan amount. Data includes information on unsuccessful applications together with credit rating value assigned every single application. The info set also incorporates details about company credit choice procedures, including other testing procedures such as for instance fraudulence screening.
Using the loan-level information supplied by loan providers, the FCA commissioned a U.K. credit bureau to utilize its matching that is proprietary technology recognize unique individuals. The credit bureau matched distinguishing information that is personalname, address, date of birth) from company documents to customer documents within their database, as soon as doing this additionally matched consumers with their credit files and offered these into the FCA. Continue reading