The Financial Conduct Authority ('FCA') is in the final stages of consulting on its proposals for a new Consumer Duty, which focuses on ensuring improved outcomes for users of financial services and products. In this briefing we consider how the proposed duty could help to address long-standing problems associated with ‘relending’ in the UK’s consumer credit markets.

Even before the Covid 19 pandemic 7.2 million people (fourteen percent of the population) were heavily burdened by debt. It’s time to write down the debt.