What’s this about?
On 17 March 2026, the Financial Conduct Authority (FCA) published its Regulatory Priorities report for the consumer finance sector. The FCA’s new Regulatory Priorities reports, published annually, replace more than 40 portfolio letters and set out its areas of focus by industry sector. It sets out three consumer finance priorities for the year ahead:
- Ensuring that consumers can access credit that meets their needs;
- Ensuring that firms support consumers who struggle with debt; and
- Ensuring that consumers can complain when things go wrong and get appropriate redress.
Boards and chief executives of consumer credit firms should review these priorities and take action where needed.
Ben Player, a Partner in our Financial Services Regulatory team says…
“This report reflects the breadth and complexity of the consumer finance regulatory agenda. Whilst a number of the developments are already known to firms, seeing them all together shows the direction of travel and where the regulator will focus. The motor finance redress intervention alone has significant implications for affected firms, and BNPL firms will be finalising their preparation for Buy Now Pay Later regime coming into force in July 2026.
At the same time, the FCA’s data-driven supervisory approach means that firms should be carefully considering the data reporting they make to the FCA and what picture it shows the regulator. Firms across all parts of the consumer finance sector should treat this report as a board-level document and act on it accordingly.”