External Links:
https://www.handbook.fca.org.uk/handbook/CONC/2/10.html
https://www.handbook.fca.org.uk/handbook/CONC/2/10.pdf
Summary
The document from the Financial Conduct Authority (FCA) outlines the guidelines and standards for firms in dealing with customers who may have mental capacity limitations, particularly in the context of consumer credit. It emphasizes the importance of fair treatment, responsible lending, and the consideration of individual circumstances to ensure informed borrowing decisions. The guidelines are comprehensive, covering indications of mental capacity limitations, practices and procedures, sustainability of borrowing, and allowing sufficient time for decisions.
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Key Points
The document applies to firms in relation to granting credit, increasing credit amount, and setting credit limits.
It references the Mental Capacity Act 2005 and the Adults with Incapacity...
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