High Court takes a view on repeat borrowing as an indicator of financial health: Kerrigan v Elevate Credit International

A failure to consider the financial difficulties that repeat lending might cause a customer is likely to result in a breach of a consumer credit firm’s statutory obligations under the Consumer Credit Sourcebook (“CONC”) and have an effect subsequently on the fairness of the relationship between a creditor and debtor under the Consumer Credit Act 1974 (“CCA”). Read more

FCA publishes its Business Plan for 2020/21

On 7 April 2020, the FCA released its Business Plan for 2020/21. The FCA had planned to focus on the areas identified in its Sector Views published on 18 February 2020 (see our blog post here), but recognises that its work will be fundamentally reshaped by the impact of COVID-19. Aware that the current circumstances create the need for it to both respond to change and initiate it, the FCA outlined plans for transforming fundamentally the way the FCA works and regulates, with a view to becoming a more efficient and effective regulator. Read more