FCA consultation on the Bounce Bank Loan Scheme and expectations for collecting debts

Regulatory Updates | 04/12/20

The Financial Conduct Authority (FCA) has published a consultation on proposed guidance for firms that will provide Pay as You Grow (PAYG) options under the Bounce Bank Loan Scheme (BBLS). The proposed guidance aims to help firms understand how they can use and offer PAYG options and remain compliant under Chapter 7 of the Consumer Credit sourcebook (CONC).