Regulating for better outcomes - next steps in consumer credit

Consumer credit remains a key priority for the FCA as the consequences of the pandemic for consumers continue to unfold

• We are increasing our focus on consumer outcomes and needs, particularly for those in vulnerable circumstances; and bringing to bear the FCA’s new, more innovative, more assertive and more adaptive approach

• We are consulting on a new Consumer Duty and working on new regulation for buy-now-pay-later products; we’re also focusing on support for borrowers in financial difficulty and people who use high-cost credit products

• Credit is a huge and rapidly changing market - firms, consumer and debt advice organisations, government and the FCA need to continue to work together so that it delivers the right outcomes for consumers.

Regulating for better outcomes - next steps in consumer credit | FCA