At DWF, our team understands in detail how FCA regulations impact consumer credit firms. We can help you factor compliance into your operating model whilst navigating the ever-changing and complex regulatory landscape. We're experienced at helping consumer credit firms prepare and apply for authorisation, as well as providing practical support and guidance on developing robust regulatory compliance infrastructures across sales, administration, debt solutions, and arrears management.
To ensure compliance, we recommend that high-cost credit providers undertake assurance to assess the extent to which the customer is at the centre of the firm's business model, approach to lending, and the treatment of those in financial difficulty. Firms should also consider the complexity of high-cost credit products and how well they are understood by their customers.
