FCA letter to Mainstream Consumer Credit Lenders (MCCLS)
Regulatory Updates | 29/06/22
This week, the FCA wrote a portfolio letter to MCCLs. In addressing the rising cost of living, the letter outlines the key risks MCCLs pose to consumers and the FCA’s expectations of firms and how they mitigate such risks. It also outlines the FCA’s supervisory work to ensure firms meet their expectations and risk and harm are being mitigated appropriately.