Earlier today, on 19 June 2020, the UK Financial Conduct Authority issued a consultation on draft updated temporary guidance to credit card, overdraft and personal loan consumer credit firms dealing with customers needing COVID-19 related payment holidays.
There’s draft guidance for credit cards (including retail revolving credit), for overdrafts and for personal loans. There’s also a draft handbook instrument.
My one page summary is (and you can see a bigger version if you click on it):
If you want a pdf copy, please get in touch: russell.kelsall@TLTsolicitors.com.
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