Last month was significant for developments in consumer credit regulation. The two pivotal publications from HM Treasury (HMT) that we had been waiting for with bated breath were finally published on 19 May 2025. Firstly, HMT published its Phase 1 consultation confirming its vision for a reformed Consumer Credit Act 1974 (CCA) regime and proposals to repeal many of the remaining CCA provisions and much of the associated secondary legislation. Secondly, HMT entered the next phase of the regulation of Buy Now Pay Later (BNPL) by publishing a response to its consultation in October 2024. In this issue, we take you through these groundbreaking policies affecting the consumer credit sector and share our insights on the possible impacts on relevant firms and next steps. This edition also covers an update on the reforms in the mortgage sector to facilitate sustainable home ownership and enhance access and flexibility for mortgage borrowers in line with the government's growth agenda for financial services.
Landmark reforms of the Consumer Credit regime
Last month was significant for developments in consumer credit regulation. The two pivotal publications from HM Treasury (HMT) that we had been waiting for with bated breath were finally published on 19 May 2025. Firstly, HMT published its Phase 1 consultation confirming its vision for a reformed Consumer Credit Act 1974 (CCA) regime and proposals to repeal many of the remaining CCA provisions and much of the associated secondary legislation. Secondly, HMT entered the next phase of the regulation of Buy Now Pay Later (BNPL) by publishing a response to its consultation in October 2024. In this issue, we take you through these groundbreaking policies affecting the consumer credit sector and share our insights on the possible impacts on relevant firms and next steps.
Read our insights on these key reforms and possible impacts on relevant firms
Mortgage reforms for growth and access and upcoming milestones
Facilitating sustainable home ownership and enhancing access and flexibility for mortgage borrowers have been at the top of the government's growth agenda for financial services. We have seen several announcements from the Financial Conduct Authority (FCA) to take forward the government's agenda, including an initiative on simplifying rules on mortgage lending. In this issue we discuss these proposals and other upcoming reforms in the mortgage sector.
Read more on the FCA's consultation here and the upcoming milestones in the mortgage sector
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