CREDIT SEARCHES
Danger consumers lose out shopping around for loans, MPs say
Report calls on OFT, ICO to investigate credit market
Report and oral and written evidence |
press notice
Background to inquiry:
The Treasury Committee undertook a short inquiry into the impact on the credit ratings of consumers shopping around to obtain credit, through personal loans or credit cards, on the most advantageous terms. The inquiry covered:
- The effect of multiple credit searches on individuals' credit ratings including the size of the change in credit scores;
- The extent to which lenders offer best practice quotation searches.
The Committee held the following oral evidence session:
Tuesday 27 October, 9.45am, Grimond Room, Portcullis House
Witnesses:
At 9.45am:
- Martin Lewis, moneysavingexpert.com
- Toby Van der Meer, MD for Money, moneysupermarket.com
At 10.30am:
- Steve Martin, External & Regulatory Affairs Manager, Equifax
- Gillian Key‐Vice, Head of Government Affairs and Regulatory Policy, Experian
- Eric Leenders, Executive Director of Retail, BBA
- Fiona Hoyle, Head of Consumer Finance & Fraud, Finance and Leasing Association
- Jan Smith, Industry Relations Director, Callcredit Information Group
At 11.15am:
- Vivienne Dews, Executive Director, Corporate Services, and Nigel Cates, Deputy Director, Consumer Credit Group, Office of Fair Trading
- Jonathan Holbrook, Head of Data Protection Practice ‐ Private Sector, Office of the Information Commissioner