Four key findings of the FCA Financial Lives Survey 2017
By Kirsten Hastings, 19 Oct 17
The FCA recently published its results of the Financial Lives Survey 2017. It hopes the data collected will help in the understanding of consumer needs and identify where they might be experiencing harm.
Credit and debt
When it comes to high-cost loans, the data found that 3.1 million UK adults currently have one or have had one in the past 12 months.
In addition, the survey found 75% of UK adults have had one or more consumer credit products or loans in the past 12 months.
Informal or non-regulated loan use in the last 12 months include 3.6 million UK adults borrowing from friends and family.
