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|FLA comments on FCA’s review of retained provisions of the Consumer Credit Act|
|Thursday, 18 February 2016|
Commenting on the Financial Conduct Authority’s (FCA) review of the retained provisions of the Consumer Credit Act, Fiona Hoyle, Head of Consumer and Mortgage Finance at the Finance & Leasing Association (FLA), said:“We welcome this long-awaited review of the remaining provisions of the Consumer Credit Act (CCA), and have already suggested to the FCA a list of out-dated provisions where changes are needed.
“For instance, the wording of statutory notices required to be sent to customers in financial difficulties is abrupt and not in keeping with modern customer service – and a long history of overly complex provisions have, on occasion, left customers and firms with no choice but to seek clarity through litigation.
“We’ll be seeking our members’ input to help make sure that we get a regime fit for the 21st century.”
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