Consumer Credit

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4 Tips for Using Credit Cards to Get Ahead on Your Finances

Credit cards are usually associated with being bad for your finances. But the reality is that if you’re managing your cards and being smart with your spending, credit cards can actually be a great financial tool. They can help you boost your credit score and even earn money for things that you’re already spending on …

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Can we predict which consumer credit users will suffer financial distress?

The FCA today published its Occasional Paper No. 20 with the title “Can we predict which consumer credit users will suffer financial distress?”. People suffer financial distress when they face financial and non-financial difficulties from repaying their outstanding debts. This paper analyses the prevalence of financial distress, how this distress is related to consumer credit use, …

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FCA publishes final findings of credit card market study

The Financial Conduct Authority (FCA) has today published the final findings of its study of the credit card market, and set out a package of measures, which include a series of industry led proposals, to help consumers take better control of their spending. The FCA proposes to take forward a package of remedies that will …

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FCA publishes final rules on pension reforms

The FCA published today a Policy Statement to report on the main issues arising from Consultation Paper 15/30 (Pension reforms – proposed changes to our rules and guidance) and issued the final rules and guidance. In October 2015 the FCA published Consultation Paper 15/30: Pension reforms – proposed changes to our rules and guidance (CP15/30). This …

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FCA outlines future regulatory treatment of CCA regulated first charge mortgages

The FCA today published PS16/7: Future regulatory treatment of CCA regulated first charge mortgages. In this Policy Statement, the FCA reports on the main issues arising from Consultation Paper CP15/36 (Future regulatory treatment of CCA regulated first charge mortgages) and publishes the final rules. The regulator issues this paper, since in November 2015 it consulted on …

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FCA guidance to enforcing security under the Consumer Credit Act

The FCA has published a proposal to issue guidance, which explains how it will interpret provisions of the Consumer Credit Act 1974 (CCA) regarding the enforcement of security in relation to a regulated credit agreement or a regulated consumer hire agreement: GC16/2: Proposal to issue guidance on the FCA’s view of enforcing security under the Consumer Credit Act 1974 …

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FCA publishes Call for Input on the review of retained provisions of the Consumer Credit Act

The FCA has published a Call for Input on the review of retained provisions of the Consumer Credit Act. The review will consider whether particular CCA provisions remain appropriate or should be modified, updated, or replaced by FCA rules or guidance in order to maintain the right degree of consumer protection for today’s market. Christopher Woolard, …

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