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FCA: Announces proposals to further support motor finance | Fintech InShorts: Latest fintech news, analysis by experts

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FCA: Announces proposals to further support motor finance

By Laura M

July 5, 2020

FCA: Announces proposals to further support motor finance

The FCA has announced proposals which would provide continued support for users of motor finance
The proposals outline the options firms will provide motor finance, buy-now pay-later (BNPL), rent-to-own (RTO)
For motor finance, BNPL, RTO and pawnbroking customers that have already taken up support
When implementing this guidance, firms should be particularly aware of the needs of their vulnerable customers
Firms should also help customers understand the types of debt help and money guidance
The FCA welcomes comments on these proposals until 5pm on 6 July 2020 and expects to finalise the guidance shortly afterwards

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