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.

Choose sector
Preview
Download

Consumer credit

Consumer Duty board report pack · illustrative example firm: Quillstone Credit Limited

Change firm type

02
Areas rated Red: 04
Areas rated Amber: 35 of 35
Measures rated: 6
Actions in the log

consumer-duty-board-report-consumer-credit-mi-workbook-worked-example.xlsxIllustrative data

Every measure with its thresholds, latest and previous result. Thresholds shown are illustrative: your own workbook leaves them blank for you and your board to set.

Products and services Amber

Measure	Latest	Previous	Green at	Red at	Rating
Products and services past their review date	0	1	0	3	Green↑ Better
Sales outside the identified target marketA retail partner promoted the loan to a younger audience than the target market. The promotion was changed and the partner retrained.	3.5%	3.4%	2%	5%	Amber↓ Worse
Product reviews that considered customers with characteristics of vulnerability	97%	100%	95%	80%	Green↓ Worse
New products and significant changes tested before launch	100%	96%	100%	90%	Green↑ Better
Complaints saying the product did not meet their needs	1.2	1.2	2	5	Green→ Same
Agreements that fell into arrears within six months of starting	2.4%	2.5%	4%	8%	Green↑ Better

Products and services past their review dateGreen
Latest
0
Previous
1
Green at
0
Red at
3
Sales outside the identified target marketAmber
Latest
3.5%
Previous
3.4%
Green at
2%
Red at
5%
A retail partner promoted the loan to a younger audience than the target market. The promotion was changed and the partner retrained.
Product reviews that considered customers with characteristics of vulnerabilityGreen
Latest
97%
Previous
100%
Green at
95%
Red at
80%
New products and significant changes tested before launchGreen
Latest
100%
Previous
96%
Green at
100%
Red at
90%
Complaints saying the product did not meet their needsGreen
Latest
1.2
Previous
1.2
Green at
2
Red at
5
Agreements that fell into arrears within six months of startingGreen
Latest
2.4%
Previous
2.5%
Green at
4%
Red at
8%

Price and value Red

Measure	Latest	Previous	Green at	Red at	Rating
Products with a value assessment in date	98.8%	94.8%	98%	90%	Green↑ Better
Products judged not to give fair value with action still openThe point-of-sale finance product was judged not to give fair value to customers who miss payments. A change to the charge is agreed and refunds to affected customers are being worked out.	3	3	0	2	Red→ Same
Distribution arrangements reviewed for the effect of remuneration on valueOne of the eight partner agreements has not yet been reviewed for the effect of commission.	87.5%	75%	95%	80%	Amber↑ Better
Contingent fees and charges as a share of total customer cost	3%	3.1%	5%	10%	Green↑ Better
Complaints about fees and charges	0.6	0.6	1	3	Green→ Same
Arrears charges as a share of the amount customers owedArrears charges are above the level the board is comfortable with. A cap on charges takes effect next month.	3.4%	3.5%	1%	3%	Red↑ Better
Broker or retailer commission as a share of the total cost of creditCommission on point-of-sale finance rose with new partner volumes. Terms are being renegotiated.	11.5%	12%	8%	15%	Amber↑ Better

Products with a value assessment in dateGreen
Latest
98.8%
Previous
94.8%
Green at
98%
Red at
90%
Products judged not to give fair value with action still openRed
Latest
3
Previous
3
Green at
0
Red at
2
The point-of-sale finance product was judged not to give fair value to customers who miss payments. A change to the charge is agreed and refunds to affected customers are being worked out.
Distribution arrangements reviewed for the effect of remuneration on valueAmber
Latest
87.5%
Previous
75%
Green at
95%
Red at
80%
One of the eight partner agreements has not yet been reviewed for the effect of commission.
Contingent fees and charges as a share of total customer costGreen
Latest
3%
Previous
3.1%
Green at
5%
Red at
10%
Complaints about fees and chargesGreen
Latest
0.6
Previous
0.6
Green at
1
Red at
3
Arrears charges as a share of the amount customers owedRed
Latest
3.4%
Previous
3.5%
Green at
1%
Red at
3%
Arrears charges are above the level the board is comfortable with. A cap on charges takes effect next month.
Broker or retailer commission as a share of the total cost of creditAmber
Latest
11.5%
Previous
12%
Green at
8%
Red at
15%
Commission on point-of-sale finance rose with new partner volumes. Terms are being renegotiated.

Consumer understanding Amber

Measure	Latest	Previous	Green at	Red at	Rating
Customer communications tested before issue	97%	100%	95%	80%	Green↓ Worse
Customers who understood the key points	91%	87.4%	85%	70%	Green↑ Better
Complaints where unclear information was a causeComplaints show customers confused by the early repayment wording. The wording is being rewritten.	8.5%	8.8%	5%	12%	Amber↑ Better
Sampled customer calls where understanding was checked	94%	90.2%	90%	75%	Green↑ Better
Accessible-format requests met within target	97%	100%	95%	85%	Green↓ Worse
Sampled customers who could state the total amount repayable	94%	90.2%	90%	80%	Green↑ Better

Customer communications tested before issueGreen
Latest
97%
Previous
100%
Green at
95%
Red at
80%
Customers who understood the key pointsGreen
Latest
91%
Previous
87.4%
Green at
85%
Red at
70%
Complaints where unclear information was a causeAmber
Latest
8.5%
Previous
8.8%
Green at
5%
Red at
12%
Complaints show customers confused by the early repayment wording. The wording is being rewritten.
Sampled customer calls where understanding was checkedGreen
Latest
94%
Previous
90.2%
Green at
90%
Red at
75%
Accessible-format requests met within targetGreen
Latest
97%
Previous
100%
Green at
95%
Red at
85%
Sampled customers who could state the total amount repayableGreen
Latest
94%
Previous
90.2%
Green at
90%
Red at
80%

Consumer support Amber

Measure	Latest	Previous	Green at	Red at	Rating
Contacts answered within target time	94%	90.2%	90%	80%	Green↑ Better
Average days to complete a cancellation, switch or transfer	3	3.1	5	10	Green↑ Better
Complaints per 1,000 customersA spike in complaints followed a billing system change in the spring and has now eased.	7.5	7.2	5	10	Amber↓ Worse
Complaints upheld	18%	18.7%	30%	45%	Green↑ Better
Sampled cases where customers with characteristics of vulnerability reached a good outcome	94%	90.2%	90%	75%	Green↑ Better
Support for people acting for a customer matched the customer's	97%	100%	95%	85%	Green↓ Worse
Customers in financial difficulty offered a suitable option within target days	97%	93.1%	95%	85%	Green↑ Better

Contacts answered within target timeGreen
Latest
94%
Previous
90.2%
Green at
90%
Red at
80%
Average days to complete a cancellation, switch or transferGreen
Latest
3
Previous
3.1
Green at
5
Red at
10
Complaints per 1,000 customersAmber
Latest
7.5
Previous
7.2
Green at
5
Red at
10
A spike in complaints followed a billing system change in the spring and has now eased.
Complaints upheldGreen
Latest
18%
Previous
18.7%
Green at
30%
Red at
45%
Sampled cases where customers with characteristics of vulnerability reached a good outcomeGreen
Latest
94%
Previous
90.2%
Green at
90%
Red at
75%
Support for people acting for a customer matched the customer'sGreen
Latest
97%
Previous
100%
Green at
95%
Red at
85%
Customers in financial difficulty offered a suitable option within target daysGreen
Latest
97%
Previous
93.1%
Green at
95%
Red at
85%

Cross-cutting rules Red

Measure	Latest	Previous	Green at	Red at	Rating
Foreseeable-harm incidents not yet put right	0	1	0	3	Green↑ Better
Average days from identifying harm to offering redress	18	18.7	30	60	Green↑ Better
Outcome gap between the worst-served customer group and all customersCustomers in the youngest age band had a worse arrears outcome. A root-cause review is under way.	1.20	1.15	1.10	1.30	Amber↓ Worse
Incentive and performance schemes reviewed against the Duty	100%	100%	100%	70%	Green→ Same
Customer journeys reviewed for unreasonable barriers or pressure	94%	90.2%	90%	70%	Green↑ Better

Foreseeable-harm incidents not yet put rightGreen
Latest
0
Previous
1
Green at
0
Red at
3
Average days from identifying harm to offering redressGreen
Latest
18
Previous
18.7
Green at
30
Red at
60
Outcome gap between the worst-served customer group and all customersAmber
Latest
1.20
Previous
1.15
Green at
1.10
Red at
1.30
Customers in the youngest age band had a worse arrears outcome. A root-cause review is under way.
Incentive and performance schemes reviewed against the DutyGreen
Latest
100%
Previous
100%
Green at
100%
Red at
70%
Customer journeys reviewed for unreasonable barriers or pressureGreen
Latest
94%
Previous
90.2%
Green at
90%
Red at
70%

Governance and monitoring Amber

Measure	Latest	Previous	Green at	Red at	Rating
Outcome failures with a completed root-cause analysis	97%	100%	95%	80%	Green↓ Worse
Board or committee meetings that discussed Consumer Duty outcomes	6	6	4	2	Green→ Same
Duty outcome reviews by risk or internal audit completed against plan	100%	100%	100%	75%	Green→ Same
In-scope products with outcome MI reported this periodOne product was missing from the MI pack for the second quarter. It has been added.	92.5%	88.8%	100%	85%	Amber↑ Better

Outcome failures with a completed root-cause analysisGreen
Latest
97%
Previous
100%
Green at
95%
Red at
80%
Board or committee meetings that discussed Consumer Duty outcomesGreen
Latest
6
Previous
6
Green at
4
Red at
2
Duty outcome reviews by risk or internal audit completed against planGreen
Latest
100%
Previous
100%
Green at
100%
Red at
75%
In-scope products with outcome MI reported this periodAmber
Latest
92.5%
Previous
88.8%
Green at
100%
Red at
85%
One product was missing from the MI pack for the second quarter. It has been added.

See the actual workbook · real Excel sheets, rendered from the example file

Consumer credit: Ratings dashboard for the four outcomes, the cross-cutting rules and governance (illustrative example)

Outcomes dashboard · opens full size

Consumer credit: MI library with thresholds, results and ratings (illustrative example)

MI library · opens full size

Consumer credit: Board challenge questions with answers recorded (illustrative example)

Board challenge · opens full size

Consumer credit: Action log with owners, dates and board agreement (illustrative example)

Action log · opens full size

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.