Regulatory Alerts2017-07-27
Added · Updated
PS18/19: Assessing creditworthiness in consumer credit
The Financial Conduct Authority issued Policy Statement PS18/19 to finalize rules on assessing creditworthiness in consumer credit. The document establishes requirements for lenders to conduct thorough affordability checks before granting credit to consumers. These measures aim to prevent over-indebtedness and ensure responsible lending practices across the UK financial sector.
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