FCA proposes introduction of price cap on rent-to-own firms to protect vulnerable consumers from high costs

The Financial Conduct Authority today proposed to introduce a price cap on the rent-to-own (RTO) sector. The cap, subject to consultation, will come into force on 1 April 2019 providing protection for some of the most financially vulnerable people in the UK. Once in force, the changes are expected to save consumers up to £22.7m per year.

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