No sign of credit market recovery

New consumer finance in the 12 months to August was down by 2% as lending through store cards, credit cards and in-store instalment credit remained low, according to FLA data.

Fiona Hoyle, head of consumer finance at the FLA, said: “The continued weakness in the credit markets shows the importance of ensuring that the government’s proposed new regulatory regime does not make it more difficult for responsible consumers to obtain credit.”