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Detailed proposals for the FCA regime for consumer credit

December 2013

Executive Summary

Although there are many a number of important points which we highlight within our paper, the following are those which we feel create the most risk of causing significant problems to lenders if not addressed by the FCA. The scale of the changes being made has inevitably created a very significant challenge for all providers in the credit market but we feel that unless these points are addressed, the situation could have such a dramatic impact on providers that it would be impossible for them to avoid creating a very poor experience for customers in their attempts to comply with the rules. The FCA’s focus should be on doing all it can to help the industry make a smooth transition to the new regime which minimises the impact on customers and we do not feel the current approach will achieve that objective.

To view the full consultation, please click the link below.

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