Confusion over new FCA rules
Experts fear sales over the phone will have to stop.
The Financial Conduct Authority's (FCA) new rules on credit broking and fees coming into force on 2 January next year have led to confusion among specialists in the broking industry.
The new rules state that credit brokers who charge a fee to the customer, either for themselves or for a third party, need to inform the customer of this in writing and receive confirmation that the customer agrees to this before requesting payment details.
One of the interpretations of the new rules was that all
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