What specific areas does the FCA cover in relation to consumer credit?

The FCA focuses on ensuring that consumers are protected in their dealings with financial service providers, especially regarding consumer credit. This includes a range of regulations aimed at lending practices. Key areas of regulation encompass advertising, which must be clear and not misleading to consumers; affordability assessments to ensure that lenders evaluate whether consumers can realistically repay the credit they are offered; and transparency to guarantee that all terms and conditions are clearly communicated to borrowers.

By prioritizing these aspects, the FCA aims to foster a fair marketplace where consumers are safeguarded from unfair practices, excessive lending, and financial distress. This regulatory framework helps maintain consumer trust in the financial system, ensuring that lending is conducted responsibly and ethically.