According to FCA CONC rules a firm’s primary focus should be on:
- taking action to assess whether a customer can understand, remember
- and weigh-up information;
- providing reasonable support to help customers make a decision; providing customers with clear information and explanations about credit
- and the associated risks;
- giving customers adequate time to consider the information and explanations provided and ask any questions.
- giving customers the opportunity to take information away to consider
- explanations, enabling them to make informed decisions at a later date; carrying out appropriately robust assessments of the customer's ability to afford to make repayments. Such assessments should not rely unduly on the information provided by the customer.