InCredit - 7 August

Included in this edition of InCredit: FCA publishes interim report on retained provisions of the Consumer Credit Act (DP18/7), and ECON sets out further amendments to proposed ECSP Regulation and more...

UK

FCA publishes interim report on retained provisions of the Consumer Credit Act (DP18/7)

The Financial Conduct Authority (FCA) has published an interim report (DP18/7) which sets out its initial views on whether the repeal of Consumer Credit Act 1974 (CCA 1974) provisions would adversely affect the appropriate degree of protection for consumers and invites stakeholders to comment by 2 November 2018.

FCA, 2 August 2018

UK lenders agree common standards to help borrowers switch products

UK Finance, the Building Society Association (BSA) and the Intermediary Mortgage Lenders Association (IMLA) have announced a cross-industry voluntary commitment to help existing borrowers on reversion rates to switch to a better deal in certain circumstances. The initiative was launched in response to the Mortgages Market Study interim report, which was published by the Financial Conduct Authority (FCA) in May 2018.

UK Finance, 31 July 2018

Worldwide

ECON sets out further amendments to proposed ECSP Regulation

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has published a draft report on the European Commission's proposed European Crowdfunding Service Providers (ECSP) Regulation. The draft report sets out over 100 amendments to the proposed Regulation.

ECON, 1 August 2018