FCA has reinstated its unfair contract terms library, which it has reorganised in the light of the Consumer Rights Act (CRA) and CMA guidance. FCA does not intend to publish its own guidance. It has:

  • updated its Unfair Contract Terms Regulatory Guidance (UNFCOG);
  • listed the material it has decided not to reinstate as it no longer reflects FCA’s view on unfair terms – including seven undertakings, although FCA notes the undertakings are still binding on the firms that provided them; and
  • stated it will no longer publish a feedback statement on the fairness of changes to mortgage contracts.

(Source: FCA Reinstates Unfair Contract Terms Library)