Consumer Credit Act Reform - The Options Explored & What Lies Ahead

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.

Firms need to prepare for new regulatory requirements, authorisation processes and changes to credit agreements and be prepared to manage the transition to a more outcome focused FCA regulated regime. This new virtual classroom seminar will examine the various options for reform of the consumer credit regime covered in these documents and explore 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.