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The Credit Services Association (CSA)
FCA removes unfair contract terms material from website
On 2 March 2015, the FCA updated its online unfair contract terms library by removing some of its material (including guidance, undertakings and speeches) relating to unfair contract terms. Members should therefore not seek to rely on any of the removed guidance.
The FCA has removed the material "because it no longer reflects the FCA's views on unfair contract terms" and while it considers how the documents should be updated in light of the following developments:
- The Consumer Rights Bill currently passing through Parliament.
- The CMA's guidance consultation on the unfair contract terms provisions in the Consumer Rights Bill 2014-15, which closes to comments on 30 March 2015.
- Court of Justice of the EU (ECJ) case law concerning the Unfair Contracts Terms Directive (93/13/EC). For example, the ECJ has ruled that mandatory rules on termination and variation rights must be clearly set out in terms and conditions.
The FCA has not said how its views on Unfair Terms have changed resulting in the removal of the material nor has it said when it expects to be in a position to update the withdrawn materials.
We will update members again as soon as there is more information.