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Today the FCA published CP17/27: assessing creditworthiness in consumer credit We are consulting on proposed changes to our rules and guidance on assessing creditworthiness in consumer credit. This is in light of concerns about the risk of potential harm to consumers...read more
The Financial Conduct Authority (FCA) has today published the outcome of its review into high-cost credit, which includes its assessment of the effectiveness of the payday loan price cap. The review provides clear evidence that FCA regulation of high-cost short-term...read more
We are looking at the motor finance market to ensure that it works well and to assess whether consumers are at risk of harm. Consumers’ use of motor finance has grown rapidly in recent years, with many credit products now available. As we set out in our Business Plan...read more
CP17/25: Individual accountability - extending the Senior Managers and Certification Regime to all FCA firms We believe that holding individuals to account is a key component of effective regulation. The Senior Managers and Certification Regime (SM&CR) currently...read more
The Financial Services Complaints Commissioner has suggested all telephone calls to the Financial Conduct Authority’s whistleblowing team be recorded. It came as Antony Townsend, the complaints commissioner, dismissed a complaint against the FCA where someone claimed...read more
The Financial Conduct Authority (FCA) has published proposals on how consumer credit firms should manage risks related to how they pay and manage the performance of their staff. The FCA took over regulation of consumer credit in April 2014 and over 30,000 firms have...read more