The FCA estimate the introduction of price cap on rent-to-own firms to protect vulnerable consumers will save consumers £19.6m-22.7m per year without significantly reducing access to credit for people who have few alternative options.
This paper sets out the proposed price cap on the rent-to-own market, summarises feedback to CP18/12 on the questions asked about rent-to-own, and sets out final rules on a point-of-sale ban on extended warranties alongside the sale of an RTO agreement. It also includes an update on the FCA’s work on alternatives to high-cost credit.
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