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HM Treasury has announced reforms to the Consumer Credit Act (CCA) to make it suitable for the digital age.
The CCA first came into force in 1974 and many of its provisions are now out of date with developments in recent years of technology and consumer behaviour.
The reforms will include moving many of the CCA’s detailed, prescriptive requirements out of the law and into the Financial Conduct Authority’s (FCA) rulebook. This will make the rules easier to update as technology evolves.
One expected benefit is that those taking out loans, credit cards and overdrafts should be given clearer information about the costs and key terms of their finance, leading to more informed decisions.
The reforms will be part of the Financial Services and Markets Bill introduced in the King’s Speech on 13 May 2026.
See: https://www.gov.uk/government/news/consumer-credit-act-reformed-to-protect-consumers-and-support-modern-finance
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