The update concerns SME lending access and credit data frameworks, which relates to business lending regulation, though the focus is on data infrastructure rather than lending products themselves.
Low confidence — requires human review. The Bank Referral Scheme aims to improve SME finance access, but the update is primarily about data sharing governance and policy direction rather than specific payment or lending services.
Specialism
The update concerns data quality, coverage, and internal handling of commercial credit data by financial institutions, which aligns with Data Governance's focus on data quality and record-keeping standards.
The legislative framework aims to improve access to finance for SMEs through better data sharing, which has a customer protection dimension in supporting SME access to credit facilities.
2026-05-11 13:11:39·csoo@vixio.com
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This consultation and call for evidence sets out proposals and issues for examination relating to the Bank Referral Scheme.
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TITLE: United Kingdom Government Confirms Intention to Legislate on Commercial Credit Data Sharing Framework
BODY:
On 11 May 2026, HM Treasury published the outcome of its consultation on Commercial Credit Data Sharing (CCDS) and the Bank Referral Scheme (BRS), which ran from 27 October 2025 to 22 December 2025.
The government has confirmed its intention to legislate, when parliamentary time allows, to strengthen and modernise CCDS. The proposed legislative changes aim to expand CCDS scope beyond banks, improve data quality and coverage, and support access to finance for small and medium-sized enterprises (SMEs). The consultation outcome document summarises responses received during the consultation period and sets out the government's policy direction based on stakeholder feedback.
Regarding the Bank Referral Scheme, the government does not propose legislative change at this stage. Instead, it invites the financial services sector to develop industry-led proposals to improve referrals and support better outcomes for SMEs. The sector has been asked to submit these proposals by 18 December 2026. The government indicated it may explore whether existing legislation requires amendment or whether policy objectives can be achieved through alternative means, such as relevant guidance.
The consultation was initiated following the second Post-Implementation Review of the scheme, with the government committing to consult on the BRS at Autumn Budget 2024. The outcome document is available on the GOV.UK website.
**Reference:** HM Treasury, Government response – Access to finance policy: commercial credit data sharing and bank referrals (11 May 2026)
Commercial Credit Data Sharing and Bank Referral Scheme: Consultation and Call for Evidence - GOV.UK Cookies on GOV.UK We use some essential cookies to make this website work. We’d like to set additional cookies to understand how you use GOV.UK, remember your settings and improve government services. We also use cookies set by other sites to help us deliver content from their services. You have accepted additional cookies. You can change your cookie settings at any time. You have rejected additional cookies. You can change your cookie settings at any time. Accept additional cookies Reject additional cookies View cookies Hide cookie message Skip to main content Consultation outcome Commercial Credit Data Sharing and Bank Referral Scheme: Consultation and Call for Evidence From: HM Treasury Published 27 October 2025 Last updated 11 May 2026 — See all updates Get emails about this page This consultation has concluded Read the full outcome Government response – Access to finance policy: commercial credit data sharing and bank referrals PDF , 338 KB , 33 pages This file may not be suitable for users of assistive technology. Request an accessible format. If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk . Please tell us what format you need. It will help us if you say what assistive technology you use. Detail of outcome This document summarises responses to the 2025 consultations on two parts of the UK’s statutory SME finance framework: Commercial Credit Data Sharing (CCDS) and the Bank Referral Scheme. It confirms the government’s intention to legislate, when parliamentary time allows, to strengthen and modernise CCDS, including expanding its scope beyond banks, improving data quality and coverage, and supporting access to finance. In relation to the Bank Referral Scheme, the government does not propose legislative change at this stage and instead invites the financial services sector to develop industry‑led proposals to improve referrals and support better outcomes for SMEs by the end of this year (Friday 18th December). Summary This consultation and call for evidence sets out proposals and issues for examination relating to the Bank Referral Scheme. This consultation ran from 9:30am on 27 October 2025 to 11:59pm on 22 December 2025 Consultation description The purpose of this consultation and call for evidence is to invite views on a range of issues and proposals aimed at enhancing the UK’s Bank Referral Scheme (BRS). Following the second Post-Implementation Review of the Scheme, the government committed to consult on the BRS at Autumn Budget 2024, to assess whether enhancements could be made to the Scheme in order to improve its performance. Depending on stakeholder feedback from this consultation, the Government may explore whether the existing legislation needs to be amended or whether the policy objectives can be achieved by alternative means such as through relevant guidance. Documents Bank Referral Scheme: Consultation and call for evidence HTML Bank Referral Scheme: Consultation and call for evidence PDF , 367 KB , 40 pages This file may not be suitable for users of assistive technology. Request an accessible format. If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk . Please tell us what format you need. It will help us if you say what assistive technology you use. Share this page The following links open in a new tab Share on Facebook (opens in new tab) Share on Twitter (opens in new tab) Updates to this page Published 27 October 2025 Last updated 11 May 2026 + show all updates 11 May 2026 Outcome of response added. 27 October 2025 First published. Sign up for emails or print this page Get emails about this page Print this page Is this page useful? Maybe Yes this page is useful No this page is not useful Thank you for your feedback Report a problem with this page Help us improve GOV.UK Do not include personal or financial information like your National Insurance number or credit card details. This field is for robots only. Please leave blank What were you doing? What went wrong? Send Cancel Help us improve GOV.UK To help us improve GOV.UK, we’d like to know more about your visit today. Please fill in this survey (opens in a new tab ) . Cancel