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<p>The regulation of consumer credit including credit cards is a matter for the Financial
Conduct Authority.</p><p> </p><p>Last year, the Financial Conduct Authority (FCA)
published the results of its Credit Card Market Study. As a result of this study,
the FCA has taken action to tackle persistent debt in the credit card market. As part
of this, the industry has also developed a voluntary agreement to give greater control
to customers and to restrict offers of credit limit increases.</p><p> </p><p>We have
passed the Lord Bishop’s question on to the FCA, who will reply directly to him by
letter. A copy of the letter will be placed in the Library of the House.</p>
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