Data from payday loan providers
For thirty-seven lenders running within the cash advance market, whom together constitute 99% regarding the total market by loan volume, the info includes records of successful loan requests and loan performance (including info on standard and late repayments). Within these lenders, extra information ended up being collected for eleven large loan providers whom together constitute roughly 90% associated with market by loan amount. Information includes information on unsuccessful applications therefore the credit rating value assigned to every application. The info set also contains details about company credit choice procedures, including other assessment procedures such as for example fraudulence assessment.
Using the loan-level information supplied by loan providers, the FCA commissioned a U.K. credit bureau to utilize its matching that is proprietary technology determine unique people. The credit bureau matched pinpointing information that is personal (name, target, date of delivery) from company documents to consumer documents inside their database, so when doing this additionally matched consumers with their credit files and supplied these towards the FCA. The resulting data set is just a consumer-level information set including almost all consumer loans together with the greater part of customer applications in 2012-13 and credit that is complete from 2008 to 2014. The information set comprises about 4.6 million individual consumers who sent applications for at least one pay day loan in 2012-13 (around 10% associated with the U.K. Continue reading