The Department for Business Innovation & Skills (BIS) has issued a press release announcing that new regulations implementing the Consumer Credit Directive have been made and laid before Parliament.
The new regulations will come into effect from 1 February 2011. Lenders will have from 30 April 2010 until 31 January 2011 to comply with the new provisions, but are encouraged to offer consumers the new rights as early as possible.
The BIS states that the regulations will be available from the Office of Public Sector Information towards the end of the week commencing 5 April 2010.
View The Government today laid new rules in Parliament to protect borrowers, 30 March 2010