Loan-Level Information

Information from payday lenders

The FCA data comprise loan-level records for applications to U.K. payday loan providers from 1, 2012, to December 31, 2013, including first-time and repeat applications january. 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, extra information ended up being collected for eleven big loan providers whom together constitute roughly 90% regarding the market by loan amount. Information includes details of unsuccessful applications plus the credit history value assigned to every application. The info set also incorporates information regarding firm credit decision processes, including other assessment procedures such as for example fraud assessment.

Using the loan-level information given by loan providers, the FCA commissioned a U.K. credit bureau to utilize its matching that is proprietary technology recognize unique people. The credit bureau matched determining information that is personal (name, target, date of delivery) from firm documents to consumer documents inside their database, so when doing so additionally matched consumers for their credit files and supplied these towards the FCA. The ensuing data set is just a consumer-level information set including almost all consumer loans additionally the the greater part of consumer applications in 2012-13 and credit that is complete from 2008 to 2014. The information set comprises more or less 4.6 million specific customers who sent applications for at minimum one cash advance in 2012-13 (around 10% for the U.K. adult populace), including roughly 1.5 million clients whom sent applications for their payday that is first loan 2012-13. Our analysis is targeted on these loan that is first-time. Read More Here…