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Showing 51 - 60 of 95 matches filtered by 'Consumer credit'

  • Italian Courts take position on interest compounding in banking transactions: the prohibition is effective since the 1st of January 2014

    Following to the amendments made by Law no. 147 of December 27, 2013 (so called “2014 Stability Law”), art. 120 of the Italian Consolidated Banking Act (“CBA”, Legislative Decree No. 385/1993) explicitly prohibits the interest compounding, by providing that “interest periodically compounded cannot generate further interest which shall accrue only ...
  • Consumer credit: extending the exemption for instalment credit

    On the 18th March 2015, the Financial Services and Markets Act 2000 (Miscellaneous Provisions) (No. 2) Order 2015 (the ‘Order’) came into force. This Order significantly extends the exemption from regulation available to certain credit agreements which are repaid via instalments. Previously the exemption was only available to credit agreements ...
  • Enforcement under the spotlight in 2014

    To read the full article "Enforcement under the spotlight in 2014", click on the links below. 2014 was certainly a bumper year for the FCA in terms of the level of enforcement fines it imposed. A total of over £1.4 billion was levied in fines by the FCA in 2014, dwarfing the total figure of just under £500 million in 2013. It was also a year of firsts, with the first enforcement action taken by the...
  • Confirmation of the FCA’s limited regulatory remit to consider Fixed Rate Loans

    On 6 February 2015 the Treasury Committee published the Opinion of Jonathan Fisher QC which confirmed that the FCA’s regulatory remit does not include loans with features similar to interest rate hedging products (“IRHPs”). This supports the FCA’s view that it cannot establish a redress scheme for these loans and ...