Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer 8 April 2019 to Question 239222 on Consumer Credit Act 1974, if he will make it his policy to revise the rules in the Consumer Credit Act 1974 on the prescribed content of default and arrears notices; and if he will make a statement.
The Financial Conduct Authority (FCA) published the final report on the review of the retained provisions of the Consumer Credit Act 1974 (CCA) in March 2019. The FCA concluded that the current framework of information requirements continues to provide important consumer protection, however, there are a number of issues that need further consideration.
On 25 March, the Government laid a Written Ministerial Statement (HCWS1442) in response to the FCA’s review of the retained provisions of the CCA. In line with that statement, the Government is considering the findings of the FCA’s final report, and will respond in due course.