Regulatory Alerts2018-12-17
High-Cost Credit Review: Feedback on CP18/12 with final rules and guidance and consultation on Buy Now Pay Later offers
The Financial Conduct Authority issues final rules and guidance for home-collected credit, catalogue credit, and store cards while consulting on new regulatory measures for Buy Now Pay Later offers. The finalized requirements mandate clearer cost explanations, persistent debt management, and improved sales practices to protect vulnerable consumers from financial harm. Additionally, the regulator seeks feedback on extending transparency and interest rate protections to point-of-sale retail finance providers by March 2019.
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