During Q1 we also expect a consultation on affordability and creditworthiness, as well as a Thematic Report on Staff Remuneration, both of which have been delayed. The FCA’s interim report on the current review of the Consumer Credit Act, also delayed, will be published in the first half of 2017.
In December, the FCA’s Thematic Review on Early Arrears found that, while credit firms had made progress in how they help customers in financial difficulty, further improvements were required. Firms were failing to pick up on early indicators that some customers may be vulnerable or in financial difficulty.