FCA: Announces proposals to further support motor finance
- The FCA has announced proposals which would provide continued support for users of motor finance
- The proposals outline the options firms will provide motor finance, buy-now pay-later (BNPL), rent-to-own (RTO)
- For motor finance, BNPL, RTO and pawnbroking customers that have already taken up support
- When implementing this guidance, firms should be particularly aware of the needs of their vulnerable customers
- Firms should also help customers understand the types of debt help and money guidance
- The FCA welcomes comments on these proposals until 5pm on 6 July 2020 and expects to finalise the guidance shortly afterwards
