FCA publishes unsecured credit market report

The FCA published the Woolard Review on the unsecured consumer credit market today.   The report sets out 26 recommendations on how to make the market better in the future including:

• bringing BNPL into regulation
• more secure funding for the debt advice market
• sustainable forbearance throughout the pandemic recovery period
• encouraging more alternatives to high-cost credit
• increased focus on ensuring lenders continue to meet the needs of consumers throughout the product lifecycle.