Legal News

Creditworthiness and affordability at the forefront of FCA’s agenda

Published on: 11 August 2017

Table of contents

  • Original news
  • Why has the FCA published this consultation paper?
  • What are the FCA’s key proposals?
  • What impact is this likely to have on consumer credit providers?
  • What happens next?
  • What should firms and lawyers do now?

Article summary

Financial Services analysis: Clare Hughes, a partner in the Commercial team at Eversheds Sutherland, considers the Financial Conduct Authority’s (FCA) proposed changes to its rules and guidance on assessing creditworthiness in consumer credit. She advises that firms should review and amend their assessment methodologies, policies and procedures, and obtain senior level approval of the approaches being taken.

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