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Regulation of Modified Credit agreements
Citizens Advice welcomes this opportunity to respond to this HM Treasury and BERR consultation on the regulation of modified credit agreements.
Are the principles underpinning the scheme the right ones?
Citizens Advice agrees that dual regulation of credit agreements should be avoided as this is likely to add additional and unnecessary costs for firms and create confusion for consumers. Therefore, to the extent that we cannot see any immediate detriment arising for consumers, we support the proposal to amend Section 82 (2A) of the Consumer Credit Act as set out in the proposed legislation attached to the consultation paper.
For BERR Consultation see here
Citizens Advice welcomes this opportunity to respond to this HM Treasury and BERR consultation on the regulation of modified credit agreements.
Are the principles underpinning the scheme the right ones?
Citizens Advice agrees that dual regulation of credit agreements should be avoided as this is likely to add additional and unnecessary costs for firms and create confusion for consumers. Therefore, to the extent that we cannot see any immediate detriment arising for consumers, we support the proposal to amend Section 82 (2A) of the Consumer Credit Act as set out in the proposed legislation attached to the consultation paper.
For BERR Consultation see here
