FCA Handbook question

EachPenny

I'm trying to understand the FCA Handbook and its application with a credit card agreement under CCA 1974.

CONC seemed to be the obvious place to look, but checking CONC 1.1.1 for application I cannot see clearly how a credit card agreement falls within the definition of "credit-related regulated activities". I want to make sure I understand this properly.

Am I missing something obvious, or is it the case that credit card agreements are covered elsewhere?

What I'm looking for is if (and how) principles 6 and 7 apply to a firm (e.g. a high street bank) issuing a credit card under the 1974 Act. They must, surely?

agrinnall

Somebody is bound to ask, so it may as well be me: why do you want to know?

EachPenny

agrinnall wrote: »

Somebody is bound to ask, so it may as well be me: why do you want to know?

Fair enough

It relates to a complaint I'm making about the way a bank have handled a very specific issue relating to a credit card. The issue relates to fairness and communications. Everybody I've discussed the issue with (including some of the bank's own complaints handling team) have agreed the approach adopted by the bank is 'unfair' in the common use of the word.

In formulating the written complaint I'd like to be able to cite the FCA handbook on the issue of 'fairness' rather than just saying 'its not fair' (which might read like a foot-stamping tantrum ).

The Lending Code was clear on the issue, stating "customers are provided with appropriate information at the right time in order to make informed decisions" (Section 2, para 17). Now this has been replaced by The Standards of Lending Practice I am struggling to find the equivalent requirement - The Standards obviously being written with a focus on 'customer outcomes' rather than 'compliance'.

I'm hoping the change from compliance to customer outcomes doesn't actually allow a bank to say it is now up to a customer to find out something they wouldn't necessarily know they needed to ask about, in order for them to be able to make an 'informed decision'. It isn't 'fair' to expect a retail customer to know this without being told in advance, e.g. at the point of applying or being accepted for the product.