The Financial Conduct Authority (FCA) has published final rules on how it intends to regulate the consumer credit market, with higher standards for payday lenders and debt management firms. In a statement, FCA chief executive Martin Wheatley warned the new rules will give the regulator powers to “tackle any firm found to be overstepping the line”. The changes to the rules that govern the £200bn consumer credit industry aim to provide consumers with additional protection from “rogue practices” and put the onus on credit providers to ensure they are treating customers fairly. The regulator received 300 responses to its consultation, with the most feedback on its proposals for regulation of high cost short-term credit......Read more here