Credit Hub Lawyer

Requirements of the role

The team/department 

Consumer Credit 1 team is one of two consumer credit teams in the Payments, Credit, Competition and Claims Management Department in the Regulatory & Legal Directorate of the Legal Division.

The team provides legal advice on the perimeter of consumer credit and mortgages regulation.

The protection of borrowers who are in or at risk of financial difficulty or in vulnerable circumstances and the regulatory approach to the rising cost of living is an important theme in the work of the team.

What you will be doing (the role)  

Examples of projects in which the team is involved at the moment include:

• Strengthening the rules and guidance in relation to debt advice and counselling
• Strengthening protections for borrowers in financial difficulty in the credit and mortgages sector, following initiatives that were originally borne out of the Covid pandemic and cost of living crisis
• Next steps following the credit information market study final report
• Working with FCA policy colleagues and engaging with HM Treasury on its proposed far-reaching reform of the Consumer Credit Act 1974
• Working on the design and implementation of processes to seek validation of agreements rendered unenforceable and to specify the amount of compensation owed by firms where the consumer credit perimeter is breached
• Significantly improving the depth of the data we collect from consumer credit firms

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