FCA

• Spotting risk earlier by tracking consumer credit journeys – The FCA has shared how they are using credit-file data and innovative analytics to track consumer journeys and understand financial stress more effectively. Spotting risk earlier by tracking consumer credit journeys | FCA
• FCA Confirms motor finance redress scheme - FCA confirms motor finance redress scheme | FCA
• “My FCA”, marks first year with a single, streamlined sign in for all firms – “As part of ongoing improvements to My FCA, and following the successful removal of RegData sign in at the end of last year, we have now removed direct access to Connect and the Online Invoicing System.” My FCA marks first year with a single, streamlined sign in for all firms | FCA
• FCA sets out next phase of smarter, more effective regulation – The FCA have set out plans for using AI to speed up authorisations, testing new tools to identify key risk earlier. FCA sets out next phase of smarter, more effective regulation | FCA
• Modernising the redress system, the FCA are creating a redress system that works better for consumers and firms – this link explains the proposals FG26/2: Good and Poor Practice on identifying and rectifying harm – Consultation closes on 11^th May 2026.

• HCST credit price cap review round table – The NPA was invited to take part in the roundtable with other trade associations, noting that pawnbroking is recognised as secured debt unlike other lenders. Structure of the Cap in 2013 defined that no more than 0.8% interest can be charged per day, and default fees must not exceed £15. The following was discussed; Market evolution and impact of the price, Effectiveness of the Price and Competition and the Consumer Duty. This is part of an FCA review and no changes will be made, without prior notice and communications being issued.
• Small firm Guidance for credit brokers round table – This has limited impact to our industry, we were asked if there were additional issues that the NPA wanted to raise, these included;
  • Difficulty with PSD reporting.
  • Increase in complaints using AI, which often refers to affordability.
  • Members have difficulty identifying vulnerable customers, as there is no formal affordability assessment or credit reference checks (excluding AML).
  • More FCA advice needed on forbearance and renewals. I.E. Consumer renews, cannot repay and claims vulnerability.

The NPAs’ next meeting with the FCA takes place in June, where important industry challenges will be discussed. Outcomes will be shared with members.

The NPA recommends that members take the time to review the above links and forward any queries you may have to the NPA.