Consumer Credit - Don’t Get Caught Out
The provision of consumer credit is a complicated area, and can arise in a number of situations which might not otherwise be considered to be more 'formal' lending.
Loans to family members, loans to and from directors, and the deferment of payment obligations are just some of the common situations that can give rise to consumer credit implications and which might catch you unaware.
This course is aimed at those with little or no knowledge of this complicated area and is designed to ensure that you can properly identify and, where possible, avoid the implications of the Consumer Credit Act and the lending provisions of the Financial Services and Markets Act.
In addition, the course will cover the SRA's own rules on consumer credit and how these apply to solicitors' firms, including what activities are and are not permissible to carry on.
What You Will Learn
The course will cover the following:
- What does it mean to provide 'credit' and when is such credit caught by the CCA/FSMA?
- Applicable exemptions that might make an otherwise regulated agreement exempt
- The new regime for second charge secured lending found in FSMA, and what this means for the taking of security
- Consumer hire agreements - What are hire agreements and when are these caught by the CCA?
- An overview of the obligations on those who provide regulated credit and the consequences of getting these obligations wrong
- The SRA's rules on consumer credit and what this means for solicitors' firms
2:00pm - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme