FCA Brings Doorstep Lenders Under Microscope

Law360, London (February 13, 2020, 6:15 PM GMT) -- The Financial Conduct Authority said Thursday it will look at whether doorstep loan sellers are pressuring vulnerable customers into unfavorable deals to chase high commissions.

The U.K.'s financial regulator said in a letter to company bosses that it had found a “higher risk of consumer harm” from credit brokers that sell loans to customers from inside their homes. Doorstep loans, or home credit loans, often see lenders deliver money to the houses of borrowers. Although the loans may often be small, interest rates on repayments may sometimes be very high.

The number of complaints from payday loan companies has risen significantly. The...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!