FCA publishes diagrams on its proposal to add 3 new product sales data returns to the Supervision manual
November 23, 2023
On 14 November 2023, the FCA published a set of diagrams intended to act as an aid to understand the proposals set out in its Consultation Paper CP23/21 on consumer credit – product sales data reporting. For more detail on CP23/21, please see our previous blog.
European Council approves CCD II
October 17, 2023
On 9 October 2023, the European Council adopted the revised Consumer Credit Directive (CCD II).
FCA consults on consumer credit - product sales data reporting
October 03, 2023
On 27 September 2023, the FCA published Consultation Paper 23/21: Consumer Credit – Product sales data reporting (CP23/21).
Council of the European Union publishes Consumer Credit Directive II
September 27, 2023
On 21 September 2023, the Council of the European Union published the text of a proposed Directive of the European Parliament and of the Council on credit agreements for consumers and repealing Directive 2008/48/EC. The proposed Directive will replace the Consumer Credit Directive. The European Parliament adopted the proposed Directive on 12 September 2023 at first reading. The proposed Directive will enter into force 20 days after it has been published in the Official Journal of the EU.
HM Treasury publishes consultation response on Consumer Credit Act reform
July 26, 2023
On 11 July 2023, HM Treasury published a response to its consultation on reforming the Consumer Credit Act 1974 (CCA). The consultation was published on 9 December 2022 as part of the Edinburgh Reforms. As well as providing an overview of the feedback to the consultation, the response document also outlines the government’s proposed next steps.
FCA consults on strengthening protections for borrowers in financial difficulty: Consumer credit and mortgages
May 31, 2023
On 25 May 2023, the FCA published Consultation Paper CP23/13: Strengthening protections of borrowers in financial difficulty: Consumer credit and mortgages, which sets out proposed changes to FCA sourcebooks to reflect the planned withdrawal of the Tailored Support Guidance (TSG).
FCA speech ‘A credit market that delivers for consumers’
May 03, 2023
On 27 April 2023, the FCA published a speech by Roma Pearson (Director of Consumer Finance, FCA) entitled A credit market that delivers for consumers.
New briefing note: Reforming the Consumer Credit Act 1974
March 23, 2023
Among the documents that the Government published last December as part of its Edinburgh reforms was a consultation paper on reforming the UK’s Consumer Credit Act 1974. We have published a new briefing note on the consultation paper which can be found here.
Commission welcomes political agreement on the proposed revised Consumer Credit Directive
December 08, 2022
On 2 December 2022, the European Commission announced that it welcomed the provisional political agreement reached between the European Parliament and the Council on the proposed revised Consumer Credit Directive. The European Parliament and the Council now need to formally adopt the political agreement.
FCA launches webpage on the cost of living consumer credit data collection
November 08, 2022
On 1 November 2022, the FCA launched a new webpage on the cost of living consumer credit data collection.