Overview

The October edition of the Financial Institutions Group update from UK law firm Eversheds.

This issue includes analysis of the approach adopted by the OFT in its guidance on how it believes Sections 77, 78 and 79 of the Consumer Credit Act (the duty to give information to debtors and what the consequences are if these duties are not met) should operate in practice.

It also featres an asssessment of the significance of the Competition Commission’s confirmation that it will retain the point of sale prohibition covering the sale of PPI alongside credit, and details of the government’s intention to merge the Competition Commission and the Office of Fair Trading.