UK Lenders Warned Over Post-Brexit Consumer Credit Rules

Law360, London (April 14, 2021, 12:01 PM BST) -- Britain's financial regulator has warned lenders that they must be ready on June 1 to comply with new rules governing consumer credit contracts as part of the country's transition out of the regulatory orbit of the European Union.

The City watchdog has said that all consumer credit products, including car loans, must come with an information sheet to help buyers understand the contract they are entering into. (iStock) All consumer credit products — for example, car or payday loans — must come with a new information sheet that helps consumers understand the contract they are entering into, the Financial Conduct Authority said on...

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