Earlier today, on 17 April 2020, the UK Financial Conduct Authority started consulting on temporary guidance to consumer credit firms dealing with customers needing COVID-19 related payment holidays under certain motor finance and high-cost regulated credit and consumer hire agreements.
There’s draft guidance for motor finance, for rent-to-own, buy-now, pay-later and pawnbroking and for high-cost short-term credit. There’s also a draft handbook instrument.
My one page summary is:
If you want a pdf copy, please get in touch: russell.kelsall@TLTsolicitors.com.
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