FCA highlights areas of focus for firms implementing the Consumer Duty
FCA highlights areas of focus for firms implementing the Consumer DutyJan 26, 2023
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The Edinburgh Reforms and the future of consumer creditJeremy Hunt’s speech on 9th December heralds the (delayed) arrival of the anticipated reform of consumer credit in the UK…and much more. But will the fanfare live up to the industry’s expectations? The financial services sector has faced unprecedented challenges over the last few years, particularly those involved in the provision of consumer credit. The sector continues to face macroeconomic challenges and customers continue to be pressured by the cost-of-living crisis, all of this against the backdrop of a global pandemic and fundamental regulatory form in the guise of the consumer duty.
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Government publishes the reform of the Consumer Credit Act consultationThe government has today published the Reforming the Consumer Credit Act 1974 Consultation. The Consumer Credit Act 1974 (CCA) governs the regulation surrounding billions of credit card purchases, personal loans and consumer hire agreements made by UK consumers every year. It is the government’s intention that this reform will facilitate innovation in the credit sector and increase accessibility of credit products, contributing to growth in the sector and the economy more broadly.
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Lease accounting
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BREXIT
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General legal and regulatory
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