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 Acts Against Debt Firms Failing Vulnerable Consumers

Law360, London (March 15, 2019, 2:12 PM GMT) -- The Financial Conduct Authority said Friday it has started supervisory action against two debt management companies with “unacceptably poor standards,” after a review of the sector revealed one of the firms had put an 87-year-old widow on a 95-year repayment plan.

The two small debt management firms, which it would not name, were collecting payments from vulnerable consumers that they could not afford, the City watchdog said. The findings are part of the FCA's review of the debt management sector after an initial probe in 2015 found significant concerns with the quality of advice that commercial providers were giving consumers....

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!



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.



Government Agencies