Consumer Credit Act 1974

Treasury written question – answered on 30th April 2019.

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Photo of Caroline Lucas Caroline Lucas Green, Brighton, Pavilion

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.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

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.

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