FCA publishes outcome of high-cost credit review

31 May

On 31 May 2018, the Financial Conduct Authority (“FCA”) published two consultation papers following its review of the high-cost credit market. In CP18/12 the FCA proposes new rules for rent-to-own credit, home-collected credit, catalogue credit and store cards. The FCA believes the risk of consumer harm in the rent-to-own market warrants the introduction of a […]

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FCA Consultation on Unfair Terms

19 May

On 17 May 2018, the FCA launched a consultation on proposed guidance on variation terms under unfair terms legislation (GC18/2). The consultation follows the previous withdrawal of historic unfair terms guidance following the introduction of the Consumer Rights Act 2015. The consultation document briefly discusses the historic situation, the legislative provisions and the relevant case […]

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Goods Mortgages Bill abandoned

15 May

On 14 May 2018, HM Treasury published its response to the Law Commission’s proposed Goods Mortgages Bill. In light of the small and reducing market for goods mortgages and concerns raised by respondents to the consultation, the Government confirmed that it would not be proceeding with the proposed legislation. The Treasury’s response can be read […]

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‘Carney v Rothschild’ Unfair Relationships Case

11 May

HHJ Waksman QC, sitting as a Judge of the High Court, has handed down a detailed judgment in Carney v N M Rothschild & Sons Ltd [2018] EWHC 958 (Comm). This was a financial mis-selling claim. The Defendant (“the Bank”) had entered into loan agreements (“the Loans”) with the Claimants to provide funds for them to invest. […]

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Alternative Health Practitioner Prosecution

11 May

An alternative health practitioner who purported to be able to diagnose and treat disease using a method he called “live blood analysis” has been convicted of two counts of engaging in a banned commercial practice under the CPUT Regulations and one count of selling food not of the nature, quality, or substance demanded, following a […]

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