text_body: --- DIVISION TITLE ---
  
  Financial Services (Banking Reform) Bill  - Daily Information Exchange With Credit Reference Agencies by Those Offering High-Cost Short-Term Credit
  
  --- MOTION EFFECT ---
  
  
  @ MP voted aye to require those offering high-cost short-term credit to make daily updates of credit reference agency records and to use information from the agencies to assess their customers' creditworthiness.
  @ MP voted no against requiring those offering high-cost short-term credit to make daily updates of credit reference agency records and to use information from the agencies to assess their customers' creditworthiness.
  
  The majority of MPs voted against requiring those offering high-cost short-term credit to make daily updates of credit reference agency records and to use information from the agencies to assess their customers' creditworthiness.
  
  MPs were considering the Financial Services (Banking Reform) Bill[1]. The amendment rejected in this vote was:
  
  :Amendment (b) proposed to Lords amendment 155.
  
  Lords amendment 155[2][3] proposed a new clause titled ''âDuty of FCA to make rules restricting charges for high-cost short-term credit'' which did as the title suggests.
  
  Amendment (b)[4] sought to prescribe three specific elements of the rules proposed by amendment 155:
  
  * (a) authorised persons providing high-cost short-term credit shall supply to credit reference agencies on a daily basis such information about loans as the FCA specifies;
   		
  * (b) authorised persons providing credit reference services shall ensure that they are able to receive data on a daily basis and make this available to their subscribers by the end of the working day following the day on which they receive it from their subscribers; and
   		
  * (c) authorised persons providing high-cost short-term credit shall, in assessing the creditworthiness of their customers, use such information in ways that the FCA shall specify.
  
  
  
  ==
  
  * [1] [http://services.parliament.uk/bills/2013-14/financialservicesbankingreform.html Parliament's webpage on the Financial Services (Banking Reform) Bill]
  * [2] [http://www.publications.parliament.uk/pa/bills/cbill/2013-2014/0142/142.1-7.html Lords amendments to the Financial Services (Banking Reform) Bill]
  * [3] [http://www.publications.parliament.uk/pa/bills/cbill/2013-2014/0142/142.87-93.html Page of Lords amendments to the Financial Services (Banking Reform) Bill containing amendment 155]
  * [4] [http://www.publications.parliament.uk/pa/bills/cbill/2013-2014/0142/amend/pbc1421112m.1401-1403.html Amendment sheet containing Amendment (b) proposed to Lords amendment 155]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  