News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 1 - 10 of 687 matches filtered by 'Consumer credit'

  • FCA: Covid-19 – motor finance and high cost credit proposals

    03/07/2020
    FCA has set out proposals outlining the options firms will provide motor finance, buy-now pay-later, rent-to-own and pawnbroking customers who are... coming to the end of a payment freeze, as well as those who are yet to request one. These include time extensions on various existing arrangements. Responses to the proposals are required by 5pm on 6 July 2020 and FCA expects to finalise the guidance shortly afterwards
    Support Information
    Show more Show less
  • FCA: Further support for consumers impacted by coronavirus: guidance and rules (personal loans, credit cards and overdrafts)

    01/07/2020
    Further to the June 2020 consultation, FCA has published finalised rules and guidance, including changes to clarify the scope of application... of the guidance in various areas and to address a number of technical issues raised by respondents. The guidance comes into force on 3 July 2020 and only applies to credit cards (and other retail revolving credit, such as store cards and catalogue credit), personal loans and overdrafts.
    Support Information
    Show more Show less
  • FCA: Update on banks’ overdraft pricing decisions and plans to support consumers

    01/07/2020
    Further to a letter sent to firms in January 2020, asking them to explain how they reached their new overdraft rates,... FCA reports that it has not to open a formal investigation at this stage, but that it will keep a close watch on how prices develop, particularly during and after Covid-19. From August 2020, FCA will be publishing information on overdraft pricing alongside information already published on current account services.
    Support Information
    Show more Show less
  • EC: Consumer strategy

    30/06/2020
    The EC has published a roadmap ahead of the plans to update EU consumer policy, including with regard to the protection... of vulnerable consumers in the light of Covid-19 and consumer credit. Responses are required by 11 August.
    Support Information
    Show more Show less
  • EC: Consumer credit agreements - review of EU rules

    30/06/2020
    The EC has published a consultation with regard to, amongst other matters, a proposed new Directive which will take into account... the impact of Covid-19 on the credit market and on consumers. Responses are required by 6 October 2020.
    Support Information
    Show more Show less
  • EC: Consumer credit agreements – review of EU rules

    24/06/2020
    The EC has published a roadmap on a proposed review of the Consumer Credit Directive. In addition to reviewing the... Directive, the review will also examine the impact of Covid-19 on the consumer credit sector and on consumers. Responses are required by 1 September 2020.
    Support Information
    Show more Show less
  • FCA: Covid-19 – proposed consumer credit guidance

    19/06/2020
    FCA has published draft guidance concerning the support firms would be expected to provide to customers in relation to credit cards... and other revolving credit, such as store cards and catalogue credit, personal loans and overdrafts. Responses are required by 5.00pm on 22 June 2020 and FCA expects to finalise the guidance shortly afterwards. It is emphasised that the guidance does not apply to other consumer credit products, such as motor finance, high-cost short-term credit, rent-to-own, pawnbroking and buy-now pay-later, which are covered by separate guidance to be updated soon.
    Support Information
    Show more Show less
  • FCA: The equity release sales and advice process

    17/06/2020
    FCA has published the results of a review undertaken as part of its work on “later life lending”. Although it... found equity release to be working well for many consumers, the review raises concerns that advice given by firms did not always sufficiently take into account consumers’ personal circumstances; consumers’ reasons for looking at equity release were not always challenged by firms and firms were not always able to evidence the suitability of the advice given.
    Support Information
    Show more Show less
  • BIS: How are household finances holding up against the Covid-19 shock?

    15/06/2020
    This BIS bulletin looks at current levels of household debt and the corresponding debt service burdens and how various policies can... bolster resilience.
    Support Information
    Show more Show less
  • FCA: Emergency regulation and future planning

    10/06/2020
    In this podcast (also available as a transcript), Christopher Woolard discusses the regulatory response to Covid-19, and outlines areas of focus... from the 2020/21 Business Plan, including retail investments, payments and protections for the consumer credit market, enforcement and the effect of technological advancements on regulation and the FS sector.
    Support Information
    Show more Show less