In Credit Podcast: The Woolard Review
11 February 2021
In this episode of In Credit, A&O’s consumer finance team Joanne Owens, Victoria Ferres and Sophie Skeet examine the findings from the Woolard Review.
This review examined change and regulation in the unsecured credit market (covering credit cards, overdrafts, personal loans, high-cost short-term credit and currently unregulated products, such as buy-now pay-later arrangements). The findings were published on 2 February 2021.
The published report is structured by its key themes including (i) innovations in the unsecured credit market, (ii) access to credit, which is actually pervasive across all themes, (iii) the impact of Covid-19 on the unsecured lending market, and (iv) the role of regulation. In this podcast, we draw out and discuss the most urgent recommendations of:
- bringing buy-now pay-later products within scope of the regulatory perimeter;
- ensuring there is secure provision of debt advice, especially through the recovery from coronavirus; and
- maintaining a sustained regulatory response to the pandemic.
For your information on this or any related topics, please get in touch with the speakers, or your usual A&O contact.
If you liked what you heard and want to keep up to date then click here to join our Consumer Finance interest list.
The full text of the podcast can be downloaded here.
In Credit Podcast: FCA’s finalised guidance on branch and ATM closures or conversionsRead more
In Credit Podcast: FCA guidance on Covid support to consumers in the UKRead more
In Credit Podcast: Access to cash and the UK’s FCA Occasional PaperRead more
In Credit podcast: Horizon scanningRead more