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Decades-old UK consumer-credit rules to get major surgery, government pledges

By Fiona Maxwell ( June 16, 2022, 10:48 GMT | Insight) -- UK consumer-credit laws will be modernized almost 50 years after first coming into force, the government said today. Existing legislation that regulates all credit-card purchases and personal loans is "increasingly cumbersome and inflexible," the finance ministry said, as it set out plans to publish a consultation on reforms by the end of the year.Consumer-credit laws will be modernized in the UK almost 50 years after first coming into force, the government said today as it pledged to overhaul legislation that has become “cumbersome and inflexible.”...

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