Online Programme: Introduction to Consumer Credit

Start 10.00 - Finish 17.00

Part 1 The Legislation

Outline of consumer credit legislation

• Consumer Credit Act 1974 & 2006
• Regulated or Unregulated Criteria
• Exempt Agreements
• What is credit?
• What is hire?
• Types of agreements
• Agreement formation
• Agreement formalities
• Cancellation and withdrawal
• Total charge for credit rules
• Early Settlement
• Termination of HP/PCP and conditional sale
• Variation of Agreements
• Section 75 - debtor-creditor-supplier transactions
• Section 56 and Agency
• Assignment of Rights
• Statutory Notices – Annual Statements, NOSIAs etc.

Foundations and Introduction to Consumer Credit

Ongoing requirements throughout the life of the agreement

 Brokers

• Key areas of compliance
• Oversight and Monitoring requirements

Enforcement and Litigation

• Repudiatory breach
• Enforcement
• HP Protection - Half Rule
• Protected Goods (Third Rule)
• Repossession (Return of Goods orders)
• Enforcement action
• Recent Caselaw

Getting it Wrong – Unenforceability

• Consequences for defective agreements

Consumer Protection

• Unfair relationships
• Time orders
• Consumer Protection from Unfair Trading Regulations 2008
• Consumer Rights Act 2015

Part 2 The Regulation

The FCA

• How the FCA regulates firms
• Financial Services and Markets Act 2000
• Authorisation and AR/IARs
• Full and Limited Permission regime
• Structure
•  A review of CONC – specifically:- CONC 3 - Financial Promotions
• CONC 7 - Arrears, Default and Recovery
• CONC Responsible Lending rules
• Mental Capacity and Vulnerability
• Treating Customers Fairly Principle
• The new Consumer Duty
• FCA Complaints handling rules (DISP)
• Financial Ombudsman Service (FOS)
• FLA Lending Code

FCA Sourcebooks