We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

FCA Sets 'Rent To Own' Price Cap To Save Consumers

Law360, London (March 5, 2019, 12:29 PM GMT) -- The Financial Conduct Authority said Tuesday it will ban "rent-to-own" financing companies from charging high interest rates to buyers that mean they pay as much as four times the retail price for household goods, as the regulator seeks to save consumers up to £22.7 million ($30 million) a year.

The City watchdog confirmed that it will introduce a 100 percent price cap on financing companies from April 1. Many firms charge such high rates of interest that buyers are effectively paying up to four times the real cost of televisions, washing machines and other appliances. The cap means they will pay...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

map

Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

Related

Sections

Government Agencies