Step 02 / Explore the pack
See the outcomes. Know what to ask.
A visual view of what is inside the Consumer credit edition, before you open Excel or Word. Choose a tab to explore the illustrative worked example.
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Consumer credit
Consumer Duty board report pack · illustrative example firm: Quillstone Credit Limited
- 02
- Areas rated Red
- 04
- Areas rated Amber
- 35 of 35
- Measures rated
- 6
- Actions in the log
After the board's judgement
Of six areas
Every measure has a result
5 agreed by the board
Action log
6 actions, 5 agreed by the board, 3 high priority not complete.
- A01ValueHigh priority · In progress · Chief Risk Officer
Introduce the cap on arrears charges and calculate refunds for affected customers.
- A02ValueHigh priority · In progress · Head of Product
Agree the change to the point-of-sale finance charge and confirm the customer remediation list.
- A03ValueMedium priority · Not started · Head of Partnerships
Renegotiate commission terms with the three largest partners.
- A04UnderstandingMedium priority · In progress · Head of Customer Support
Rewrite and test the early repayment wording.
- A05Cross-cuttingHigh priority · In progress · Head of Collections
Complete the root-cause review of arrears outcomes for the youngest customers.
- A06GovernanceLow priority · Complete · Compliance Manager
Add a completeness check to the monthly MI pack.
Board challenge
32 of 32 questions asked and answered. The first five are shown; the workbook holds them all.
Q01Which products have not been reviewed on time, and what has the delay meant for customers?
Products and services past their review date: 0 against green 0 and red 3 (Green).
Q02How do we know we are selling only to the people each product was designed for?
Sales outside the identified target market: 3.5% against green 2% and red 5% (Amber). A retail partner promoted the loan to a younger audience than the target market. The promotion was changed and the partner retrained.
Q03What did our reviews find for customers with characteristics of vulnerability, and what changed as a result?
Product reviews that considered customers with characteristics of vulnerability: 97% against green 95% and red 80% (Green). Sampled cases where customers with characteristics of vulnerability reached a good outcome: 94% against green 90% and red 75% (Green).
Q04What did we test before launching or changing a product, and did any test fail?
New products and significant changes tested before launch: 100% against green 100% and red 90% (Green).
Q05Are complaints telling us any product does not meet customers' needs?
Complaints saying the product did not meet their needs: 1.2 against green 2 and red 5 (Green).
See the actual workbook · real Excel sheets, rendered from the example file
Built from the same data and formulas as the worked-example workbook, for an invented firm. All figures and thresholds are illustrative, not benchmarks.
About the Consumer credit edition
Consumer credit lenders and credit brokers. Consumer credit lending and broking are retail market business. Lenders are usually manufacturers and brokers distributors; mark which you are on the MI sheet.
The FCA does not set a template for the board report. This pack is a practical structure built on the rules in PRIN 2A.8 and 2A.9. Read the Consumer Duty outcomes monitoring guide and the board pack explainer, or try the Consumer Duty outcomes checker.