Temporary measures to help consumers with some consumer credit products
Following our brief consultation, we have now confirmed a package of targeted temporary measures to help people with some of the most commonly used consumer credit products: credit cards, personal loans and overdrafts. The full range of measures applied from 14 April 2020.
The guidance now also includes clarification on which products are in scope of the personal loans guidance. This includes guarantor loans, logbook loans, home collected credit, loans issued by Community Development Finance Institutions and some loans issued by credit unions, but only where they are regulated. The guidance also applies to firms which have acquired such loans.