Abstract
This thesis examines the regulatory regime for consumer credit, fifty years from the introduction of the Consumer Credit Act 1974 (CCA). It comprises four papers, with an explanatory commentary, produced between 2019 and 2024. The papers explore specific aspects of the CCA and associated regulation in light of the many developments in the consumer marketplace over the past half century, including the use of machine learning in assessing creditworthiness, the increasing complexity of debtor-creditor-supplier arrangements, and the availability of opt-out collective redress. Insights from the behavioural economics movement and from the academic literature on vulnerable consumers are used to analyse the contemporary effectiveness of the regulatory regime and suggest reforms where indicated.The papers in this thesis contribute to the current discussion on reform of the CCA. In 2022 the
Financial Conduct Authority announced plans for a comprehensive review of the CCA and the results of its first round of consultation were published in 2023. This research reviews the current law in the context of modern theories of consumer protection regulation, and in the context of its application in practice, thus offering fresh insight and suggestions for potential reform.
| Date of Award | 25 Nov 2024 |
|---|---|
| Original language | English |
| Awarding Institution |
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| Supervisor | James Hand (Supervisor) & Pinelopi Giosa (Supervisor) |