FCA Consumer Credit

This week, the FCA announced that it has updated the following consumer credit information sheet:

  • Arrears (No 001).
  • Default (No 002).
  • High-cost short-term loans (No 003).
  • High-cost short-terms loans, peer-to-peer lenders (No 004).
  • Arrears, peer-to-peer lending (No 005).

https://www.fca.org.uk/firms/information-sheets-consumer-credit

The changes are minimal - to update the names and contact information of the relevant support organisations. However, firms are not permitted to start using the new information sheets until 18 January 2017. Until then, the current versions must be used. Impacted firms should manage current stocks and plan for using the new sheets from 18 Jan.