{"id":435,"date":"2020-04-17T14:30:00","date_gmt":"2020-04-17T13:30:00","guid":{"rendered":"https:\/\/consumerfinancelaw.co.uk\/wp\/?p=435"},"modified":"2020-04-17T14:45:17","modified_gmt":"2020-04-17T13:45:17","slug":"fca-starts-consulting-on-draft-temporary-guidance-to-motor-finance-and-high-cost-consumer-credit-firms-dealing-with-customers-needing-covid-19-related-payment-holidays","status":"publish","type":"post","link":"https:\/\/consumerfinancelaw.co.uk\/wp\/2020\/04\/17\/fca-starts-consulting-on-draft-temporary-guidance-to-motor-finance-and-high-cost-consumer-credit-firms-dealing-with-customers-needing-covid-19-related-payment-holidays\/","title":{"rendered":"FCA starts consulting on draft temporary guidance to motor finance and high-cost consumer credit firms dealing with customers needing COVID-19 related payment holidays"},"content":{"rendered":"\n<p>Earlier today, on 17 April 2020, the <a href=\"https:\/\/www.fca.org.uk\/news\/press-releases\/fca-proposes-help-motor-finance-high-cost-credit-customers-coronavirus\">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.<\/a><\/p>\n\n\n\n<p>There\u2019s draft guidance for <a href=\"https:\/\/www.fca.org.uk\/publications\/guidance-consultations\/motor-finance-coronavirus\">motor finance<\/a>, for <a href=\"https:\/\/www.fca.org.uk\/publications\/guidance-consultations\/rent-to-own-buy-now-pay-later-pawnbroking-agreements-coronavirus\">rent-to-own, buy-now, pay-later and pawnbroking<\/a> and for <a href=\"https:\/\/www.fca.org.uk\/publications\/guidance-consultations\/high-cost-short-term-credit-coronavirus\">high-cost short-term credit<\/a>. There\u2019s also a draft handbook instrument.<\/p>\n\n\n\n<p>My one page summary is:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"2285\" height=\"1313\" data-attachment-id=\"437\" data-permalink=\"https:\/\/consumerfinancelaw.co.uk\/wp\/2020\/04\/17\/fca-starts-consulting-on-draft-temporary-guidance-to-motor-finance-and-high-cost-consumer-credit-firms-dealing-with-customers-needing-covid-19-related-payment-holidays\/200417-covid19-and-consumer\/\" data-orig-file=\"https:\/\/i0.wp.com\/consumerfinancelaw.co.uk\/wp\/wp-content\/uploads\/2020\/04\/200417-COVID19-and-consumer.gif?fit=2285%2C1313&amp;ssl=1\" data-orig-size=\"2285,1313\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"200417-COVID19-and-consumer\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/consumerfinancelaw.co.uk\/wp\/wp-content\/uploads\/2020\/04\/200417-COVID19-and-consumer.gif?fit=525%2C302&amp;ssl=1\" src=\"https:\/\/i1.wp.com\/consumerfinancelaw.co.uk\/wp\/wp-content\/uploads\/2020\/04\/200417-COVID19-and-consumer.gif?fit=525%2C302&amp;ssl=1\" alt=\"\" class=\"wp-image-437\"\/><\/figure>\n\n\n\n<p>If you want a pdf copy, please get in touch: <a href=\"mailto:russell.kelsall@TLTsolicitors.com\">russell.kelsall@TLTsolicitors.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s draft guidance for motor finance, for rent-to-own, buy-now, pay-later and pawnbroking and for high-cost &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/consumerfinancelaw.co.uk\/wp\/2020\/04\/17\/fca-starts-consulting-on-draft-temporary-guidance-to-motor-finance-and-high-cost-consumer-credit-firms-dealing-with-customers-needing-covid-19-related-payment-holidays\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;FCA starts consulting on draft temporary guidance to motor finance and high-cost consumer credit firms dealing with customers needing COVID-19 related payment holidays&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[47,107],"tags":[146],"class_list":["post-435","post","type-post","status-publish","format-standard","hentry","category-conc","category-consumer-credit","tag-coronavirus"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paQZb2-71","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/comments?post=435"}],"version-history":[{"count":2,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/435\/revisions"}],"predecessor-version":[{"id":438,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/posts\/435\/revisions\/438"}],"wp:attachment":[{"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/media?parent=435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/categories?post=435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerfinancelaw.co.uk\/wp\/wp-json\/wp\/v2\/tags?post=435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}