Data from payday lenders
The FCA data comprise loan-level records for applications to U.K. payday loan providers from January 1, 2012, to December 31, 2013, including first-time and perform applications. 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 lenders, extra information had been collected for eleven big loan providers whom together constitute roughly 90% regarding the market by loan amount. Information includes information on unsuccessful applications and also the credit rating value assigned to every application. The info set also incorporates details about company credit choice procedures, including other testing procedures such as for example fraud testing.
Using the loan-level information supplied by loan providers, the FCA commissioned a U.K.