Anneliese Dodds MP, Labour’s Shadow Chancellor, commenting on new FCA policies to help people with some of the most commonly used consumer credit products, said:

“It is encouraging to see the FCA heed Labour’s call for urgent measures to protect those struggling with loan repayments, credit card fees and overdraft charges because of coronavirus.

“The FCA must now work with credit providers to ensure these can be implemented quickly and plug the acknowledged gaps, such as payday loans and car finance.”