Consumer Credit Act Reform - The Current Position & Horizon Scanning

Introduction

The Consumer Credit Act 1974 (the Act) has been amended repeatedly since its introduction into law.

It has been the subject of domestic amendments, changes necessitated by EU maximum harmonisation directives, and the restructuring of the financial services regulatory landscape.

The result is a complex patchwork quilt of primary legislative requirements, detailed obligations imposed by regulations and orders made under the Act, and rules of the Financial Conduct Authority (‘FCA’) Handbook.

In consequence, two major reviews of the consumer credit law have been undertaken in the recent past.

In 2019 the FCA published its ‘Review of retained provisions of the Consumer Credit Act: Final Report’.

In 2022, the then-Government undertook to reform the Act and subsequently published a consultation paper and response.

This new virtual classroom seminar will examine the various options for reform of the consumer credit regime explored in these documents, and to opine upon what now lies ahead for this area of law.

What You Will Learn

This live and interactive course will cover the following:

• A brief overview of the current state of consumer credit regulation
• The FCA’s 2019 ‘Retained Provisions report’
• The Government’s 2022 consultation on reform of the Act and its 2023 response
• What may now lie ahead

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.