FLA WELCOMES CREDIT CARD ISSUERS ANNOUNCEMENT ON DATA-SHARING

2 December 2005

FLA (Finance & Leasing Association) today welcomed the announcement by a number of credit card issuers to share customers’ data on a more detailed basis. FLA has been calling for greater data sharing for many years, and is convinced that sharing this additional data will aid responsible lending and help prevent over-indebtedness.

FLA’s Director-General, Martin Hall said:

”Being able to spot changes in customers’ borrowing behaviour, which can act as a warning sign to other potential lenders that the customer should not take on further credit, is an important element in responsible lending so any moves to improved data-sharing are very welcome.”