Parvez Khan questions whether mere compliance with FCA rules establishes a legal presumption of fairness in lender-borrower relationships.
Consumer Credit Act 1974
Implementation of the Consumer Duty requirements will continue to be the FCA’s key focus to address issues with premium finance for home and motor insurance products.
The story so far in detail, and the question of whether there is scope for further potential challenges to the redress scheme asked.
The recent ruling in the motor finance case is important in clarifying the law.
Up to 14 million people could still be eligible, with costs of up to £18 billion.
New rules will allow Buy-Now-Pay-Later users to benefit from key protections offered by other consumer credit products.
Skills, diversity, money-laundering rules and personal guarantees for loans feature in this week’s roundup.
Has anything changed since the announcement of the Edinburgh Reforms?