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Scott Greever from Sunny comments on the outcome of the FCA’s review into high-cost credit PDF Print E-mail
Tuesday, 01 August 2017
Sunny comments on the outcome of the FCA’s review into high-cost credit:   “We support the FCA’s announcement today, as the market has largely been working well since the original cap was introduced. The decision to maintain the cap will allow the impact of the changes already introduced by the FCA as well as the remedies introduced by the CMA to become fully apparent.

“We welcome the acknowledgement by the FCA that steps need to be taken to address problems with other forms of high-cost credit, particularly unarranged overdrafts. Now more than ever there is a need to rethink traditional approaches to consumer credit; all alternative forms of lending should be fully regulated – including rent-to-own and unauthorised overdrafts so that consumers of all products are adequately protected and treated fairly.”
 

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