This draft guidance applies in the exceptional circumstances arising out of the coronavirus (Covid-19) pandemic and its impact on the financial situation of high-cost short-term credit customers.
On 24 April 2020, we published guidance setting out our expectation that firms should provide, for a temporary period only, exceptional and immediate support to consumers facing payment difficulties due to circumstances arising out of coronavirus.
Today we have announced proposals which would provide continued support for users of high-cost short-term credit products.
We are proposing to disapply some rules in order to give effect to this guidance.
How to respond
We would welcome comments from stakeholders on this draft guidance by 5pm on Monday 6 July.
Please send your comments to: [email protected]