Credit searches : third report of session 2009-10 : report, together with formal minutes, oral and written evidence
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書誌事項
Credit searches : third report of session 2009-10 : report, together with formal minutes, oral and written evidence
（HC, 197）
Stationery Office, 2009
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注記
At head of title: House of Commons. Treasury Committee
"Incorporating HC 1069-i, session 2008-09."
"Ordered by the House of Commons to be printed 15 December 2009."
内容説明・目次
内容説明
"Credit Searches ("HC 197")" by the Treasury Committee calls on the Office of Fair Trading (OFT) and the Information Commissioner's Office (ICO) to investigate the fairness of a part of the credit market. The Report follows an inquiry sparked by concerns that in shopping around for credit, especially for unsecured credit such as personal loans and credit cards, consumers were building up a record of credit application searches on their credit reference files. Additionally high numbers of recorded applications in fact made it harder for them to obtain credit, or affected the rates charged. The Committee's inquiry considered a range of evidence, including from members of the public who responded to a call put through website moneysavingexpert.com to provide examples of their experiences and difficulties obtaining credit, credit search companies themselves, the OFT, ICO and others. The Report concludes that there is a fine balance of public interest between ensuring that fraud is prevented and consumers are protected from reckless lending, and ensuring that the market is subject to the disciplines of informed consumer choice.
Loan providers have over 400 indicators that they may use to assess suitability; the Committee did not get compelling evidence that application search data is essential. Nor was it presented with overwhelming evidence that making multiple application searches is a major source of direct consumer detriment, although the number of consumers doing this seems likely to rise. However the Committee was extremely concerned about the effect of the use of credit searches on market mechanisms, since in principle the ability to shop around is not only an important means for consumers to assess the market, but also provides a key discipline on providers. During the course of the inquiry the Committee heard about some solutions which could reduce the adverse effects of the use of credit application search data in credit reference files; it considers that any acceptable solution must strike an appropriate balance between minimizing fraud and over-borrowing and ensuring the market is subject to normal market disciplines. It recommends that the OFT look at this.
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