The FCA has published a consumer credit update. This provides a summary on recent developments such as:
- How it assesses consumer credit firms applying for full permission.
- The EU Benchmarks Regulation which introduces a common framework across the European Union, affecting the production and use of benchmarks referenced in variable rate mortgage and consumer credit contracts.
- The FCA’s latest Data Bulletin which includes information on how it is progressing with the authorisation of consumer credit firms.
- An article from Director of Credit Authorisations, Val Smith, on the FCA’s programme of assessing applications.
- An update to the FCA’s unfair contract terms library.