Unfair contract terms, and the effect of The Consumer Rights Act 2015 on financial services contracts
We are all well aware of the need to comply with the Unfair Terms in Consumer Contract Regulations 1999 in respect of standard form contracts, and the specific provisions relating to financial services contracts these Regulations contain.
These Regulations will be repealed by the Consumer Rights Act 2015, most of which is expected to come into force on 1 October 2015.
This Briefing Paper explains the new provisions. In most respects they update the old provisions for relatively few new areas, but these changes ought to be considered.