The FCA has published the findings from its recent research into the consumer credit market. In particular the FCA has identified a number of issues and these include the following:

  • overdrafts – a key issue here is that some consumers pay little attention to their overdrafts;
  • logbook loans – some consumers suffer detriment when failing to shop around for the best deal;
  • credit cards – some consumers are using credit cards wrongly, failing to manage the repayment of them effectively and paying unnecessary amounts of interest as a result; and
  • debt management – by approaching debt management service providers as a last resort, consumers are often already in a desperate situation and particularly vulnerable.

View Overdrafts, 5 June 2014

View Logbook loans, 5 June 2014

View Credit cards, 6 June 2014

View Debt management, 6 June 2014