- The review which completed prior to the coronavirus pandemic, highlights concerns about poor practices by some firms
- As firms in this sector begin to lend again the report sets out the FCA’s expectations on how they must treat consumers
- The review found that levels of debt increased as consumers took additional credit from high-cost lenders
- High-cost credit customers more likely to be vulnerable have low financial resilience and poor credit histories
- The report also calls out concerns about behaviour which suggests some customers may be trying to deal with financial difficulties
- The FCA made a number of temporary interventions to help consumers who are under additional financial pressure due to the impact of coronavirus
FCA: Highlights concerns when credit firms allow repeat borrowing
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