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 the Financial Conduct Authority to set rules, by 1 October 2013, to require those offering high-cost short-term credit to make daily updates of credit reference agency records and to use information received daily 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 (a) proposed to Lords amendment 155.
  
  Amendment 155[2][3] sought to introduce a new clause titled ''Duty of FCA to make rules restricting charges for high-cost short-term credit'', which sought to do as the title describes with a view to securing an appropriate degree of protection for borrowers against excessive charges. 
  
  Amendment (a)[4] sought to add the following at the end of the clause:
  
  :â(1BB)   In order to assist in securing an appropriate degree of protection against excessive charges, the FCA must make rules in relation to data sharing for high-cost short- term credit, requiring in particular thatâ
  :(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.
   		
  :(1BC)   The FCA must ensure that it has made rules under paragraph (1BB) by no later than 1 October 2014.â
  
  
  
  
  * [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 for consideration of the Lords amendments to the Financial Services (Banking Reform) Bill on 11 December 2013]
  
  --- COMMENTS AND NOTES ---
  
  (put thoughts and notes for other researchers here)
  