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<p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p>The Financial Conduct Authority (FCA) is looking at real-time market-wide data sharing as a priority, including as part of its work to design a payday cap.</p><p>The FCA has already made clear to payday lenders and credit reference agencies that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency. The FCA has said that if the industry cannot overcome the obstacles, and if the FCA is best placed to bring about data-sharing, it will not hesitate to act. The Government strongly endorses this message and the FCA's commitment to act if the market does not respond quickly enough.</p> |