In 2026, the Financial Conduct Authority published a consultation paper known as CP26/7. Among other proposals, it set out a framework for designating certain credit reference agencies as DCCRAs. The term has started appearing in news coverage of credit reform, and it is worth knowing what it actually means.
What does DCCRA stand for?
DCCRA stands for Designated Credit Reference Agency.
In plain English, a DCCRA would be a credit reference agency that the FCA formally recognises and places under specific obligations. Those obligations are expected to include requirements around how data is collected, shared, and maintained.
The three agencies proposed in CP26/7 as potential DCCRAs are Equifax, Experian, and TransUnion. These are already the three main credit reference agencies used by lenders in the UK.
It is important to note that, at the time of writing, the DCCRA list has not been finalised. CP26/7 was a consultation, meaning the FCA was seeking views before making any formal decision. The final rules may differ from what was proposed.
What changed, and when?
The FCA published CP26/7 as part of a broader programme of reform to how credit data works in the UK.
Under the current system, lenders are not always required to share data with all three agencies. Some share with one or two, others with all three. This means your credit file at one agency can look different from your file at another. That inconsistency can cause problems, particularly for people who do not have much credit history.
CP26/7 proposed that, once agencies are designated as DCCRAs, lenders would face stronger obligations to report data to all of them. The intention, as set out in the consultation, is to make the overall picture of a borrower's history more complete and consistent.
Why does this matter for borrowers?
The important bit is what happens to people with a "thin file."
A thin file means you have very little credit history recorded. This can happen if you are new to borrowing, have recently moved to the UK, or have simply avoided credit products for a long time. Lenders use your credit file to assess how risky it is to lend to you. If your file is thin, some lenders may decline your application or offer you a higher rate, even if you manage your finances carefully.
If mandatory sharing across all DCCRAs becomes a reality, data that currently sits only with one agency may eventually appear at all three. For someone with a thin file, this could mean more of their positive financial behaviour, such as repaying a mobile phone contract on time, is visible to more lenders.
This can matter because some lenders only check one agency. If that agency holds little or no data about you, they may not see the fuller picture that another agency holds.
That said, broader data sharing can also mean that negative information (such as missed payments) becomes visible more widely too. It is not a one-way benefit, and the practical effects will depend on the final rules and how lenders choose to use the data.
Who may be affected?
The proposed DCCRA framework is most relevant to:
- People with thin credit files, including those new to credit, recently arrived in the UK, or returning from a long period of not borrowing.
- Anyone whose lender currently reports to only one or two agencies, meaning their history is incomplete at the others.
- People trying to rebuild their credit after a difficult period, who want their positive recent behaviour to be recorded consistently.
If your credit file is already full and consistent across all three agencies, you are less likely to notice a significant change.
What may be worth checking?
There are a few practical steps that can help you understand where you stand.
Checking your credit file at all three agencies is a useful starting point. Each one holds data independently. You are entitled to a statutory credit report from each, free of charge.
If your files look very different across the three agencies, it may be because your lender only reports to some of them. This is not something you can change directly, but knowing about it helps you understand why different lenders may make different decisions about your application.
A soft search (one that does not affect your credit score) can also help you see which lenders are likely to consider your application before you formally apply. Some comparison tools offer this.
Important caveats
At the time of writing, CP26/7 remains a consultation. Nothing in it is law yet, and the final framework, including which agencies receive DCCRA status and what obligations that brings, may change.
The FCA consultation period has a closing date, after which the regulator will review responses and publish its final position. The timeline for any changes coming into force has not been confirmed at the time of writing.
This article will be updated as the position becomes clearer. For the most current information, the FCA's own website is the authoritative source.
Related guides
For a broader explanation of how credit reference agencies work and what your credit file contains, the guide below is a good starting point.
Sources
- Financial Conduct Authority (FCA), CP26/7 consultation paper on credit reference agency reform.