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<p>The government is committed to ensuring that consumers are able to access credit
where appropriate, so that they can achieve their financial goals. However, the government
does not believe that it would be appropriate for lenders to disclose their precise
lending criteria.</p><p> </p><p>Financial Conduct Authority (FCA) rules require lenders
to undertake creditworthiness and affordability assessments before lending to a potential
borrower. These rules are based on the principle that money should only be lent to
a consumer if they can afford to repay it. The rules set out what is expected of firms,
and the sanctions if they lend irresponsibly. Firms are free to use a variety of methods
and processes to assess credit risk and affordability, and firms can decide what is
appropriate in the circumstances.</p><p> </p><p>However, every lender will have its
own idea of the particular profile of person that it wishes to lend to. Such information
is commercially sensitive and its disclosure could lead to consumers being incentivised
to provide misleading information in their credit application and accessing credit
products that might not be appropriate for them.</p><p> </p><p>The government is committed
to high regulatory standards and will continue to work with regulators to ensure consumer
lending is responsible.</p><p> </p>
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