Credit Cards: Regulation — Written Question

Question

Dr Peter Prinsley

Labour — Bury St Edmunds and Stowmarket

To ask the Chancellor of the Exchequer, whether consumer credit affordability and creditworthiness checks adequately prevent people with high levels of debt and known gambling-related financial risks from obtaining additional credit cards; and what steps

Answer

Lucy Rigby

Lenders offering credit are regulated by the Financial Conduct Authority (FCA). This oversight ensures that lending practices are fair and that consumers are protected – firms regulated by the FCA must comply with its strict lending affordability rules, l...

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