StepChange welcomes FCA action on improving information in credit files
25 February 2026
StepChange Debt Charity has welcomed the consultation launched by the FCA today on improving the accuracy of credit information.
The charity says that inaccurate or missing information on credit files can exclude some consumers from accessing credit, which increases the risk of people turning to unaffordable or harmful lending, and making them more vulnerable to getting trapped in debt.
Peter Tutton, Director of Policy, Research and Public Affairs at StepChange, said:
“We’re pleased to see the FCA taking action to improve the quality of credit information. High quality credit information is crucial to support people to access affordable credit, essential services and prevent debt problems. Too often gaps and inconsistencies in credit information have excluded some consumers while leading to unaffordable lending to others. These proposed reforms will help to create consistency by ensuring information on a borrowers’ credit history is shared across all credit reference agencies (CRAs).
“We also welcomed the Government’s support in the recent Financial Inclusion Strategy for the cross-sector initiative to develop a new framework to improve the way coerced debt is reflected in the credit files of victim-survivors of economic abuse. It’s vital that work is taken forward as a matter of urgency.”
Notes to Editors