The UK Government’s proposed reform of the Consumer Credit Act is being sold as a modernization program. The objective is clear enough: move away from a complex and prescriptive statutory framework and place greater reliance on FCA rules, the Consumer Duty, and outcomes-based regulation. In principle, few would dispute the
OPINION: Consumer credit reform risks replacing legal certainty with regulatory uncertainty
Parvez Khan questions whether mere compliance with FCA rules establishes a legal presumption of fairness in lender-borrower relationships.