Consumer credit

Reports, news and latest reforms relating to Consumer Credit. The Consumer Credit Directive aims to integrate consumer credit markets in the EU and ensure a high level of consumer protection by emphasising transparency and consumer rights.

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Consumer credit regulation now with the FCA; CONC now in force.

Latest Reports

  • Royal Stock Exchange, London

    Background The Financial Conduct Authority (FCA) has published its long awaited final report (the Report) on the retained provisions of the Consumer Credit Act 1974 (CCA). Responsibility for consumer credit regulation was transferred from the OFT to the FCA from 1 April 2014. Most CCA provisions were retained, but some ...

  • City, London

    The FCA has issued a letter to firms outlining its findings of a review on credit card fees and charges with a view to firms taking steps to improve customer outcomes in relation to the application of fees and mitigating against harm, particularly for those in financial difficulty. This comes ...

  • Canary Wharf, London

    On 5 March 2019 the FCA published its Policy Statement and finalised rules on rent to own ('RTO’) products and alternatives to high cost credit, taking account of the feedback received on its earlier consultation paper on this subject. We reported on the consultation paper and the proposed new rules ...

  • Glass sky

    The FCA’s appetite for change in the high-cost credit market shows little sign of abating with its latest set of proposals. With reports earlier this year that over three million consumers are utilising high cost credit, the FCA acknowledges that the task of regulating consumer credit is one of the ...

  • Bank

    As part of an on-going process of reviewing high-cost credit products, the FCA recently published two consultation papers focusing on: rent-to-own, home-collected credit, catalogue credit and store cards and alternatives to high-cost credit; and overdrafts. The consultation papers follow on from action taken by the FCA to address perceived issues ...

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