Recent Developments in Consumer Finance in the UK: Keeping the engine running (May 2022)
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This is a reprint of an article originally published on 16 March 2022 as part of our publication "Structured Debt in a New World", accessible here.
The increasing popularity and widespread offering of “buy-nowpay- later” type financial products, often offered by unregulated specialist firms in the market, has recently brought increased focus to the regulation of consumer credit firms and the treatment of consumers thereunder. Coupled with the lingering effects of the FCA payment deferral guidance and the introduction of the Breathing Space Regulations, regulation of consumer finance offerings continues to be a developing landscape for creditors, debtors, and investors.
In this article, we review some of the recent changes to the regulation of consumer finance and discuss their expected effects on securitisation of those products.
